Atmos Renewables acquires Karadoc solar farm from BayWa r.e.

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). Karadoc’s revenue is underpinned by long-term fixed-price energy and green certificate offtake arrangements with Flow Power and Carlton & United Breweries (owned by Asahi Australia).

“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.

“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 now owns interests in 15 renewable energy plants, generating 2.5 TWh of electricity, powering 485 000 homes and offsetting 1.7 million t of CO2, making it one of the top renewable energy generators in the market.

The acquisition also sees Atmos and BayWa r.e. enter into an agreement providing Atmos with an option to acquire interests in a series of BayWa r.e.’s wind development projects, as the two companies look to accelerate their commitment to enabling the decarbonisation of Australia’s energy market.

“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.

 

 

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