Atmos Renewables Acquires Wind and Solar Projects from European Developer
Atmos Renewables, an Australian pioneer in renewable energy and storage, has successfully acquired a portfolio consisting of operational and developing wind and solar projects from European developer BayWa r.e., which is shifting its focus back to core markets. The announcement came on Friday, detailing that Atmos has taken over the Yatpool and Hughenden solar farms, alongside the advanced Bullawah wind and battery project, as well as several earlier-stage projects.
This acquisition enhances Atmos’ operational portfolio to a total of 19 assets across wind, solar, and battery energy storage systems (BESS). With this expansion, the company’s operating and under-construction capacity exceeds 2GW, positioning Atmos as one of Australia’s significant players in the renewable energy space.
Recent Developments
The acquisition coincides with a particularly active period for Atmos, which recently achieved financial closure on two major projects: the 400 MW, 1,600 MWh Teebar battery in Queensland and the 470 MW Parron Maam Marang wind farm in Western Australia, marking the first wind project in Australia to secure financing in over two years. The company is also in the process of constructing the Merredin battery project in W.A.
Portfolio Strengthening
Chief Executive Officer Nigel Baker has remarked that this acquisition, for which the purchase price remains undisclosed, significantly bolsters the company’s existing portfolio. Current assets include the Hornsdale wind farms in South Australia, two wind projects in Tasmania, six wind farms and a solar installation in Victoria, along with four solar farms in Queensland.
The 106 MW Yatpool solar farm, located near the Karadoc solar farm in Victoria—which Atmos purchased from BayWa in 2024—has secured a long-term power purchase agreement with Flow Power. Similarly, the 20 MW Hughenden solar farm boasts a power purchase agreement with CS Energy. Meanwhile, the Bullawah wind project, which has already received planning approvals in New South Wales and secured grid access rights within the new south-west renewable energy zone, will mark Atmos’ entry into the state for wind generation.
The Bullawah project, situated approximately 40 km south-east of Hay, has the ambitious potential for an 800 MW capacity, inclusive of a 359 MW/2 hour battery. However, for the time being, only the 262 MW wind component has obtained rights for development.
Development Plans and Community Focus
Baker noted that while the Bullawah project has successfully met key development milestones, there remains significant work ahead. The company aims to meticulously progress through the remaining phases of planning and development, with a target to prepare the project for investment readiness by 2027, all while remaining committed to collaborating with landowners, First Nations partners, local communities, and governmental bodies.
“The Bullawah wind farm presents an opportunity to contribute substantial new generation and storage capacity in New South Wales, fostering job creation, supporting local businesses, and delivering enduring benefits to communities throughout the Riverina,” Baker stated.
BayWa’s Strategic Shift
Earlier this year, BayWa indicated a restructuring plan necessitated by the challenging market conditions facing the renewable energy sector. Hans-Joachim Ziems, Chief Risk Officer at BayWa, reported in March that the company would concentrate its efforts on specific core European markets.
Dr. Daniel Gäfke, BayWa’s Chief Operating Officer, remarked that this transaction showcases BayWa’s ability to identify, advance, and manage risks within large-scale renewable energy projects, thereby adding value for its partners and promoting Australia’s transition towards clean energy.
Baker confirmed that Atmos and BayWa are collaborating closely to ensure a seamless transition, with all existing power purchase agreements, landowner arrangements, and stakeholder commitments being upheld.
