Atmos Renewables has acquired 126MWp of operating solar PV capacity in Victoria and Queensland from BayWa r.e., along with a late-stage wind and battery storage project in New South Wales, Australia.
The deal adds two operating solar PV plants to the Australian owner-operator’s fleet and gives it a new project to develop. Financial terms were not disclosed.
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The larger asset is the 106MWp Yatpool solar PV plant in north-west Victoria, which uses around 350,000 modules. Its output is sold to business energy retailer Flow Power under an offtake arrangement.
BayWa r.e. completed construction in late 2019, but grid congestion in the region delayed full connection by around 18 months, until 2021.
Yatpool sits about 6km from the Karadoc solar PV plant, which Atmos previously bought from BayWa r.e. The second asset is the 20MWp Hughenden solar PV plant in Queensland, which has operated since 2018 under a power purchase agreement with state-owned generator CS Energy.
“This acquisition strengthens our portfolio in two important ways,” said Atmos CEO Nigel Baker, pointing to the immediate expansion of its operating fleet and the addition of a development project.
That project is the proposed Bullawah wind and battery storage project in the Riverina region of New South Wales, about 40km south-east of Hay.
Its full design comprises 141 turbines with around 800MW of wind capacity and a 359MW 2-hour battery energy storage system (BESS). The 262MW second stage holds access rights in the state’s South West Renewable Energy Zone (REZ).
Bullawah is in the final stages of the state planning process. Atmos aims to have it ready for an investment decision in 2027 and estimates it will create 380 construction jobs.
“Bullawah has already reached important development milestones, but there is still substantial work ahead,” Baker said.
The transaction also includes earlier-stage development projects across the National Electricity Market (NEM). Atmos said existing power purchase agreements, landowner agreements and stakeholder commitments will be honoured.
A growing portfolio
The deal takes Atmos to 19 operational wind, solar and BESS assets, with more than 2GW of capacity in operation or under construction.
The company, backed by Igneo Infrastructure Partners, reached financial close on the 400MW/1,600MWh Teebar BESS in Queensland earlier this month. The project is supported by the federal government’s Capacity Investment Scheme (CIS).
In Western Australia, Atmos’s 100MW/400MWh Merredin BESS was among the projects to receive a network connection offer from Western Power, which granted 759MW of renewables and BESS connections in 2024/25.
For BayWa r.e., the sale follows a series of disposals that have included a Spanish solar and wind portfolio sold to Encavis in 2025. COO Daniel Gäfke said the transfer “highlights the strength of high-quality, investment-ready assets”.
Australian solar deployment continues to grow across both rooftop and utility-scale segments. Households and businesses installed 1,894MW of rooftop solar in the first half of 2026, the highest six-month figure on record, and rooftop systems supplied 12.9% of the country’s electricity over the period.
On 15 October, the Australian Renewable Energy Agency (ARENA) launched an AU$250 million (US$175 million) third Solar Sunshot round, aimed at companies that make or demonstrate equipment used to build large-scale solar PV plants in Australia.
