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Tuesday, 26 April 2022: Global investment manager Igneo Infrastructure Partners (Igneo), has reached an agreement to acquire a 100% interest in Elliott Green Power Australia (EGP) via its Australian renewables business, Atmos Renewables.
The EGP portfolio consists of the Childers, Susan River and Nevertire solar farms with a combined capacity of 302 MW, generating approximately 500GWh of energy annually and powering over 100,000 homes. Each solar farm includes well-advanced co-located battery developments totalling 125 MW / 250 MWhs. Construction of the battery projects is expected to commence in 2022.
The solar farms each have long term offtake agreements for energy and green certificates with investment grade counterparties.
EGP’s operating and development portfolio is supported by an experienced management team which will be integrated into Atmos Renewables.
Daniel Timms, Head of Asset Management at Igneo said, “The investment in EGP demonstrates Igneo’s commitment to Australia’s renewable transition and a decarbonised energy market.”
Upon transaction completion Atmos Renewables will be the 4th largest owner of operating renewable energy assets in Australia with a diverse portfolio of wind and solar farms across each state of the National Electricity Market. The portfolio will consist of interests in 7 operating wind farms and 5 operating solar farms with a total economic capacity of 865 MW.
“This marks the fourth successful acquisition by Igneo since Atmos Renewables was established in 2020. It 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” Mr Timms said.
Transaction completion is expected by Q3 2022.
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About Igneo Infrastructure Partners
Igneo is an autonomous investment team in the First Sentier Investors Group. It invests in high-quality, mature, mid-market infrastructure companies in the utilities and transport sectors in the UK, Europe, North America, Australia and New Zealand. Operating since 1994, the team works closely with portfolio companies to create long-term sustainable value through innovation, a focus on ESG and proactive asset management.
Igneo manages US$14.8 bn worth of assets (as at 31 December 2021) on behalf of more than 120 investors around the world.
For more information, visit igneoip.com
About Atmos Renewables
Atmos Renewables is an owner of utility scale renewable energy assets across the Australian National Electricity Market. Founded by Igneo Infrastructure Partners in 2020, Atmos Renewables was established to invest in and support Australia’s transition to a decarbonised energy market. Atmos has interests in 9 wind and solar assets, generating 1.4TW of electricity annually and powering over 250,000 homes.
For more information, visit atmosrenewables.com.au
About First Sentier Investors
First Sentier Investors manages US$182.5 billion in assets (as at 31 December 2021) on behalf of institutional investors, pension funds, wholesale distributors, investment platforms, financial advisers and their clients worldwide.
The firm operates as a standalone global investment management business with offices across Europe, the Americas, and Asia Pacific. First Sentier Investors’ expertise spans a range of asset classes and specialist investment sectors focused on delivering sustainable investment success based on responsible investment principles.
Formerly known as First State Investments, the firm was acquired by Mitsubishi UFJ Trust and Banking Corporation, a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc in August 2019.
For more information, visit firstsentierinvestors.com
About MUFG
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,500 locations in more than 50 countries. The Group has about 170,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges.
For more information, visit www.mufg.jp/english
About Mitsubishi UFJ Trust and Banking Corporation
Mitsubishi UFJ Trust and Banking Corporation, as a core member of MUFG, provides its customers with a wide range of comprehensive financial solutions leveraging unique and highly professional functions as a leading trust bank. Such financial solutions include real estate, stock transfer agency, asset management and investor services, and inheritance related services, in addition to banking operations. It aims to realize its vision to be the trust bank that creates "a safe and affluent society" by always supporting its customers' and society's challenges based on Trust, and thus created a new key concept: "Create a Better Tomorrow".
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