Igneo Infrastructure to buy Elliott Green Power Australia

Igneo Infrastructure Partners has bought an Australian solar business from US investment firm Elliot Management Corporation, for an undisclosed sum but believed to be about A$500m (€333m).

Igneo’s Australian renewables arm Atmos Renewables has won a bid to buy Elliott Green Power Australia (EGP).

EGP’s portfolio consists of the Childers, Susan River and Nevertire solar farms, all located in Queensland, with a combined capacity of 302MW, generating 500GWh of energy annually. Each solar farm includes co-located battery developments.

IPE Real Assets understands that construction of the first battery project is underway, and it is awaiting regulatory approval to start construction of the second battery plant. A third battery project is on the drawing board.

Daniel Timms, head of asset management, Australia and New Zealand, at Igneo Infrastructure Partners said: “This marks the fourth successful acquisition by Igneo since Atmos Renewables was established in 2020.

“The transaction delivers on our objective to create a market-leading Australian renewables business with internal management capability to deliver sustained growth and value for our investors,” he said.

Igneo, formerly known as First Sentier Investor, manages A$19.2bn worth of assets for around 120 global investors.

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