Igneo Infrastructure Partners to acquire Elliott Green Power 

Sun shines brightly on solar panels with US city in background (solar)
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Global investment manager Igneo Infrastructure Partners has reached an agreement to acquire a 100 per cent 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 302MW, generating approximately 500GWh of energy annually and powering over 100,000 homes.

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Each solar farm includes well-advanced co-located battery developments totalling 125MW/250MWhs. 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. 

Igneo head of asset management (Australia and New Zealand) Daniel Timms 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 fourth 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 seven operating wind farms and five operating solar farms with a total economic capacity of 865MW.

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“This marks the fourth successful acquisition by Igneo since Atmos Renewables was established in 2020. The transaction 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,” Timms said.  

Igneo says transaction completion is expected by Q3 2022.

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