Igneo Infrastructure Partners has raised more than A$400m (€224m) to expand its Australian renewable energy platform, with co-investments from Cbus Super, MLC and AMP Super.
The investment has helped Igneo’s renewables platform, Atmos Renewables, acquire the remaining stake in the Hornsdale Wind Farm in South Australia that it currently does not own from Neon Australia, increasing its ownership from 23.4% to 100%; and also bought the 1GW Merredin Battery Energy Storage System (BESS).
The A$220m Merredin BESS (MEB) project is Atmos’ first greenfield battery storage project. Developed in partnership with Nomad Energy, it is expected to begin operations by mid-2027.
Daniel Timms, managing director at Igneo, said reaching financial close on the Merredin BESS was a major milestone for Atmos as it demonstrated the platform’s capacity to successfully commercialise early-stage projects.
Danny Latham, head of Igneo Australia, said: “Atmos is a great example of our mid-market platform strategy and offering co-investment opportunities to Cbus Super, MLC and AMP Super to support value-accretive growth.
“This collaboration highlights the quality of the Atmos platform and our commitment to assisting clients in meeting their investment and responsible investment goals.”
Atmos aims to deliver over 1GW of renewable energy projects from its development pipeline within the next two to three years - representing more than A$3bn in investment, which will be targeting support by funds managed by Igneo, its existing clients, co-investors and debt partners.
Leigh Gavin, Cbus CIO, said: “First and foremost, we believe this investment will stack up on returns but also has the additional benefit of supporting a sustainable energy future for Australians.
“Atmos’ leadership in wind, solar, and now energy storage, under Igneo’s management, makes them ideal partners as we continue our commitment to renewable energy and support for Australia’s energy transition.”
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