One of Australia’s largest wind and solar portfolios sold as European developer retreats to core markets

Australian renewable energy and storage developer Atmos Renewables has snapped up one of the country’s largest portfolios of operating and developing wind and solar projects from a European developer that has decided to focus on its core markets.

Atmos announced on Friday that it had bought the operating Yatpool and Hughenden solar farms, along with the advanced Bullawah wind and battery project and a number of other earlier stage development projects from BayWa r.e..

Atmos says the acquisition boosts its operational portfolio to 19 wind, solar and BESS (battery energy storage system) assets and lifts its operating and in-construction capacity to more than 2GW, placing it among Australia’s larger renewable energy owner-operators. 

It adds to a busy period for Atmos, which earlier this month reached financial close on both the 400 MW, 1,600 MWh Teebar battery in Queensland, and the 470 MW Parron Maam Marang wind farm in Western Australia, the biggest wind project to lock in finance in Australia for more than two years. It is also building the Merredin battery in W.A.

Nigel Baker, the CEO of Atmos Renewables, says  the acquisition of the BayWa assets – no purchase price was disclosed – strengthens the company’s portfolio, which already includes the Hornsdale wind farms in South Australia, two wind farms in Tasmania, six wind farms and a solar farm in Victoria and four solar farms in Queensland.

The 106 MW Yatpool solar farm is just up the road from its Karadoc solar farm in Victoria, which Atmos bought from BayWa in 2024. Yatpool has a long term power purchase agreement with retailer Flow Power.

The 20 MW Hughenden solar farm also has a power purchase agreement with CS Energy, and the 262 MW Bullawah wind project, which has obtained planning approvals from NSW and also has grid access rights to the new south-west renewable energy zone, will deliver Atmos its first wind farm in that state.

The Bullawah project, about 40 kms south-east of Hay, could total 800 MW with a 359 MW/2 hour battery, but for the moment it only has access rights for a 262 MW wind component.

“Bullawah has already reached important development milestones, but there is still substantial work ahead,” Baker said in a statement.  

“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.  

“The Bullawah wind farm 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.”  

BayWa earlier this year flagged “far-reaching: restructuring measures in light of the “overall difficult market situation” for the renewable energy sector. “We will focus on specific core markets in Europe,” Hans-Joachim Ziems, CRO of BayWa, said in March

BayWa’s chief operating officer Dr. Daniel Gäfke said in a statement that the transaction highlights BayWa’s expertise in identifying, advancing and mitigating risk in large-scale renewable energy developments, delivering value for our partners whilst 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.

Baker said Atmos and BayWa r.e. are working closely to ensure a smooth transition, and said existing power purchase agreements, landowner agreements and stakeholder commitments will be honoured.

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