New owner for Karadoc solar operation

The price has not been revealed , but the purchase also gives Atmos Renewables an option to acquire interests in a number of Australian wind development projects.

The Karadoc facility is the first Victorian solar farm purchased by Atmos.Atmos chief executive Nigel Baker said the acquisition would complement the company’s existing portfolio of solar and wind assets across the National Electricity Market in each state.

Mr Baker said the acquisition of Karadoc Solar Farm combined with an option to acquire interests in a series of wind development projects affirmed the company’s strategy of growing its portfolio of Australian renewable energy assets.

“The acquisition of Karadoc Solar Farm further expands Atmos’ already diverse portfolio of operational renewable energy assets,” he said.

With the acquisition, Atmos now owns interests in 15 renewable energy plants, generating 2.5 TWh of electricity, powering 485,000 homes and offsetting 1.7 million tonnes of carbon emissions, making it one of the top renewable energy generators in the market.

The acquisition also sees Atmos and BayWa r.e. enter into an agreement providing Atmos with an option to acquire interests in a series of BayWa r.e.’s wind development projects, as the two companies look to accelerate their commitment to enabling the decarbonisation of Australia’s energy market.

“Atmos is committed to playing a significant role in enabling Australia’s energy transition and we are pleased to enter this agreement with BayWa r.e., one of the world’s most successful independent renewable energy developers, to bring to market attractive wind energy projects in the coming years,” Mr Baker said.

Karadoc’s revenue is underpinned by long-term fixed-price energy and green certificate offtake arrangements with Flow Power and Carlton & United Breweries (owned by Asahi Australia).

Atmos Renewables, which has offices in Sydney and Melbourne, is owned by Igneo Infrastructure Partners, a specialist global investment management company with more than 25 years’ experience in infrastructure.