Igneo Infrastructure Partners has bought the Karadoc Solar Farm in southeastern Australia from BayWa re for an undisclosed amount.

Media reports quoting industry sources put the value of the asset in north-western Victoria at less than A$200m (€119m).

The acquisition marks Igneo’s sixth investment through Atmos Renewables, which it established in 2020 and is dedicated to developing, building and operating renewable and clean energy infrastructure across Australia.

As part of the acquisition, Atmos also have the option to acquire interests in a series of BayWa re’s wind development projects. 

Nigel Baker, Atmos’ chief executive officer, said the acquisition of the Karadoc Solar Farm, combined with an option to acquire interests in a series of wind development projects, affirmed the company’s strategy of growing its portfolio of Australian renewable energy assets.

Karadoc is a 112MWdc solar farm located approximately 25km south of Mildura. It commenced operations in 2019.

Karadoc marked Atmos’s entry into Victoria and complemented its existing portfolio of solar and wind assets across each state of Australia’s National Electricity Market.

Earlier this month, BayWa re also sold two windfarms to Prime Super for A$45m.

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