Atmos Renewables acquires Wild Cattle Hill Wind Farm, expanding the footprint of its operating portfolio

Wednesday, 18 December 2024: Global infrastructure investment manager, Igneo Infrastructure Partners (Igneo) and its Australian renewables business, Atmos Renewables (Atmos), have announced the acquisition by Atmos of a 100% interest in the Wild Cattle Hill Wind Farm (Cattle Hill) from PowerChina and Goldwind.

Located in Tasmania, 93km north-west of Hobart, Cattle Hill is a 148.4MW wind farm that has been operational since August 2020 jointly built by Goldwind and PowerChina.

This is the 7th follow on acquisition since Atmos was established in 2020, increasing its ownership interests in renewable assets to over 1.8 GW across 11 wind and 6 solar assets. To complement its diverse operating portfolio, Atmos is progressing a development pipeline of over 7 GW across 18 projects, including wind, battery storage and solar projects. Several wind and battery storage projects have achieved key development milestones and Atmos are working towards a financial investment decision on at least two projects over the next 18 months. Notably, the Parron wind farm, Teebar and Merredin battery storage projects achieved new or amended development approvals in the last 12 months, highlighting Atmos’ ability to drive early-stage development projects through the challenging development process.

Nigel Baker, Chief Executive Officer (CEO) of Atmos, said: “This acquisition not only adds to our operating portfolio but further solidifies our commitment to diversifying our commercial exposure to the Australian electricity market. With a robust development pipeline and strong operational portfolio, we are poised to continue our leadership in the sector and deliver value to our stakeholders.”

Daniel Timms, Igneo Infrastructure Partners Managing Director, said: “Whilst Atmos continues to progress and de-risk its development pipeline, it continues to target high quality operating assets which offer good value given the challenges to bring development projects, particularly wind, to financial close.”

The acquisition follows an expansion of the Atmos Board with the appointment of Mary Reemst as an independent, non-executive director in August 2024. Mary brings invaluable expertise to the Board with over 30 years of experience in banking and finance including a distinguished career in investment banking with a focus on energy and health sectors, and more recently as CEO of Macquarie Bank Limited. Mary currently holds non-executive directorships across several Boards, further enhancing Atmos’ governance and strategic capabilities.

With the addition of Mary, Atmos now has a majority independent Board, including Chairman David Bartholomew, a highly experienced infrastructure and energy sector professional with 25 years in board and board advisory roles and non-executive director Michael Rand, a successful sustainable energy investor with over 20 years of experience in building renewable energy businesses globally.

David Bartholomew, Atmos’ Chair, said: “We are excited to welcome Mary to the Atmos Board. The breadth and depth of her experience complements our existing capabilities, ensuring we have a well-rounded team to guide Atmos through its next phase of growth.”

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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 renewables, digital infrastructure, waste management, water utilities and transportation/logistics 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 responsible investment and proactive asset management. As of 30 September 2024, Igneo managed more than A$28.8 billion in assets for more than 200 investors around the world.

For more information, visit igneoip.com.

About Atmos Renewables

Atmos Renewables (Atmos) is powering a sustainable future for Australia. Established in 2020 by Igneo Infrastructure Partners, Atmos was founded to contribute to the decarbonisation of the Australian electricity network and to provide a platform for investors to deploy capital into the renewable energy sector through Atmos’ development, construction, ownership and operation of renewable energy assets. Atmos has interests in 17 large scale operating wind and solar farms across the NEM – 10 of these are 100%-owned, two are majority-owned and the remainder are through minority stakes.

Atmos invests in green energy at all stages of the project lifecycle and is building out a scaled and diversified portfolio of generation and storage assets to provide clean power to a range of customers. In doing so the company is committed to achieving positive environmental outcomes and lasting relationships with local communities. Atmos is led by a team of experienced professionals across offices in Melbourne and Sydney.

For more information, visit atmosrenewables.com.au

Important information

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