Atmos Renewables has completed the purchase of the Karadoc Solar Farm in northwestern Victoria. Australia from BayWa r.e.
During the announcement, they added that they also had the option to purchase interests in other of their Australian wind development projects.
“The acquisition of Karadoc Solar Farm combined with an option to acquire interests in a series of wind development projects affirms the company’s strategy of growing its portfolio of Australian renewable energy assets,’ said Nigel Baker, CEO of Atmos.
Karadoc is a 112 MWdc (90 MWac) solar farm located approximately 25 km south of Mildura, Victoria, which commenced operations in 2019.
The solar farm was built by Beon Energy Solutions and has over 346 000 panels, generating enough energy to power 47 000 homes and offset 188 000 tpy of carbon dioxide (CO2).
The Growth and Diversification of Atmos Renewable Portfolio
Long-term fixed-price energy and green certificate offtake agreements with Flow Power and the Asahi Australia-owned Carlton & United Breweries serve as the foundation for Karadoc’s revenue.
“The acquisition of Karadoc Solar Farm further expands Atmos’ already diverse portfolio of operational renewable energy assets. It is our first Victorian solar farm and complements our existing portfolio of solar and wind assets across each state of the National Electricity Market (NEM),” continued Baker.
With this acquisition, Atmos has become one of the top producers of renewable energy on the market, holding interests in 15 renewable energy facilities that produce 2.5 TWh of electricity, power 485 000 homes, and offset 1.7 million t of CO2.[1]
As part of the deal, Atmos and BayWa r.e. also entered into an agreement giving Atmos the opportunity to purchase interests in a number of BayWa r.e.’s wind development projects. This is part of the two firms’ efforts to decarbonize Australia’s energy market more quickly.
“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,” added Baker.
References
- Atmos Renewables, ‘Atmos Renewables acquires its 15th renewable energy asset and signs strategic development agreement with BayWa r.e’, 16 August 2023, https://atmosrenewables.com.au/articles/atmos-renewables-acquires-its-15th-renewable-energy-asset-and-signs-strategic-development-agreement-with-baywa-r-e/[↩]
