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Tuesday, 26 April 2022: Global investment manager Igneo Infrastructure Partners (Igneo), has reached an agreement to acquire a 100% interest in Elliott Green Power Australia (EGP) via its Australian renewables business, Atmos Renewables.
The EGP portfolio consists of the Childers, Susan River and Nevertire solar farms with a combined capacity of 302 MW, generating approximately 500GWh of energy annually and powering over 100,000 homes. Each solar farm includes well-advanced co-located battery developments totalling 125 MW / 250 MWhs. Construction of the battery projects is expected to commence in 2022.
The solar farms each have long term offtake agreements for energy and green certificates with investment grade counterparties.
EGP’s operating and development portfolio is supported by an experienced management team which will be integrated into Atmos Renewables.
Daniel Timms, Head of Asset Management at Igneo said, “The investment in EGP demonstrates Igneo’s commitment to Australia’s renewable transition and a decarbonised energy market.”
Upon transaction completion Atmos Renewables will be the 4th largest owner of operating renewable energy assets in Australia with a diverse portfolio of wind and solar farms across each state of the National Electricity Market. The portfolio will consist of interests in 7 operating wind farms and 5 operating solar farms with a total economic capacity of 865 MW.
“This marks the fourth successful acquisition by Igneo since Atmos Renewables was established in 2020. It delivers on our objective to create a market leading Australian renewables business with internal management capability to deliver sustained growth and value for our investors” Mr Timms said.
Transaction completion is expected by Q3 2022.
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About Igneo Infrastructure Partners
Igneo is an autonomous investment team in the First Sentier Investors Group. It invests in high-quality, mature, mid-market infrastructure companies in the utilities and transport sectors in the UK, Europe, North America, Australia and New Zealand. Operating since 1994, the team works closely with portfolio companies to create long-term sustainable value through innovation, a focus on ESG and proactive asset management.
Igneo manages A$20.3bn (US$14.8 bn) worth of assets (as at 31 December 2021) on behalf of more than 120 investors around the world.
For more information, visit igneoip.com
About Atmos Renewables
Atmos Renewables is an owner of utility scale renewable energy assets across the Australian National Electricity Market. Founded by Igneo Infrastructure Partners in 2020, Atmos Renewables was established to invest in and support Australia’s transition to a decarbonised energy market. Atmos has interests in 9 wind and solar assets, generating 1.4TW of electricity annually and powering over 250,000 homes.
For more information, visit atmosrenewables.com.au
Important information
This press release is intended for information only, aimed solely at the media and should not be further distributed to individual and/or corporate investors, and financial advisers and/or distributors. The information included within this document and any supplemental documentation provided should not be copied, reproduced or redistributed without the prior written consent of First Sentier Investors.
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