Atmos Renewables Tops 2 GW Portfolio Milestone With Acquisition of BayWa r.e. Solar and Wind Assets in Australia

Atmos Renewables has lifted its operating and in-construction capacity beyond 2 GW after completing the purchase of a portfolio of Australian renewable energy projects from BayWa r.e. The transaction brings two operating solar farms into the company's fleet, adds an advanced wind farm development in New South Wales, and includes a set of earlier-stage projects across the National Electricity Market.

Following the deal, Atmos now owns 19 wind, solar, and battery energy storage system assets, placing it among Australia's larger renewable energy owner-operators. The acquisition also secures a significant late-stage wind project holding transmission access rights in the South West Renewable Energy Zone.

Two solar farms join the operating fleet

The first of the operating assets is Yatpool Solar Farm, a 106 MWp project in northwest Victoria with approximately 350,000 solar panels. Its revenue is underpinned by an offtake arrangement with Flow Power. The farm sits roughly six kilometres from Karadoc Solar Farm, which Atmos bought from BayWa r.e. in 2024, meaning the transaction brings a second neighbouring solar farm into the company's portfolio.

The second is Hughenden Solar Farm, a 20 MWp project with more than 60,000 panels that has been operating in central Queensland since 2018. It holds a power purchase agreement with CS Energy.

Bullawah wind and battery project in the Riverina

The largest development asset acquired is Bullawah Wind Farm, a proposed wind farm and battery project in the Riverina region of New South Wales, approximately 40 kilometres south-east of Hay. The overall design comprises 141 turbines totalling around 800 MW of wind generation and a 359 MW two-hour battery energy storage system.

Access rights have been secured in the South West REZ for the 262 MW Stage 2 component. Bullawah is moving through the final stages of the NSW planning process. Subject to the required approvals and a final investment decision, the project is expected to create an estimated 380 jobs during construction and contribute new wind generation capacity to the NSW electricity system.

It would also provide community benefits through funding for local councils, First Nations initiatives, neighbour benefit programs, education, local procurement, and supply chain development.

Nigel Baker, CEO of Atmos Renewables, said Bullawah had already reached important development milestones but that substantial work remains ahead. "Our focus will be on progressing the project carefully through the remaining phases of planning and development, preparing the project to be investment-ready in 2027, while continuing to work openly with landowners, First Nations partners, local communities, and government," he said.

Baker said the project has the potential to add meaningful new generation and storage capacity in New South Wales while creating jobs, supporting business, and delivering long-term benefits for communities across the Riverina.

Balance of operating and development value

Baker said the value of the transaction lies in the balance it strikes between operating and development assets. "This acquisition strengthens our portfolio in two important ways," he said.

"Yatpool and Hughenden add further diversity to our operating portfolio, while the 262 MW Bullawah project positions the company to deliver its first New South Wales wind farm in the near term, given the advanced state of that project and the REZ access rights it holds."

He added that the acquisition allows Atmos to expand its operating portfolio immediately while investing in a significant wind project in the region of the National Electricity Market with the greatest customer demand.

BayWa r.e. points to development expertise

For the seller, Dr. Daniel Gäfke, COO at BayWa r.e., said the transaction highlights the company's expertise in identifying, advancing, and mitigating risk in large-scale renewable energy developments, delivering value for partners while contributing to Australia's energy transition.

"The successful transfer to Atmos Renewables highlights the strength of high-quality, investment-ready assets and the continued interest in renewable energy infrastructure opportunities," he said. "We are convinced that these projects will continue to generate significant value under the new owner."

Transition commitments and recent expansion

Baker said Atmos and BayWa r.e. are working closely to ensure a smooth transition. Existing power purchase agreements, landowner agreements, and stakeholder commitments will continue to be honoured, and Atmos looks forward to working closely with landowners, neighbours, First Nations partners, local communities, and government as the transition progresses.

The acquisition follows a period of expansion for the company. Earlier this month, Atmos announced it had taken 1 GW of Capacity Investment Scheme projects through financial close, comprising the Parron Wind Farm and Teebar BESS. In July, the company created a new Chief Origination & Delivery Officer role to support the growth of its national portfolio and pipeline of renewable energy projects towards construction and operations.