BayWa r.e. sells Karadoc Solar Farm and enters into Strategic Development Agreement with Atmos Renewables

Aug 17, 2023 10:00 JST

Source: BayWa r.e. AG

SYDNEY, AU, Aug 17, 2023 - (ACN Newswire) - Global renewable energy developer, service provider, and solar distributor BayWa r.e. announces the sale of the Karadoc solar farm and the strategic development partnership with Atmos Renewables (Atmos) for a series of wind projects, marking a significant milestone in the company's commitment to renewable energy development in Australia. BayWa r.e. is committed to the redeployment of resources from the sales proceed and further investments in its existing pipeline of 5GW in the Australian renewables market.

The Karadoc solar farm represents BayWa r.e.'s first owned and built solar plant in Australia, and it stands as one of Australia National Electricity Market (NEM)'s largest operating solar projects in terms of capacity. Situated around 25 km south of Mildura, Victoria, Karadoc has a capacity of 112.5 MWp and became operational in 2019. Featuring over 346,000 solar panels, this facility generates sufficient energy to cater to 47,000 households.

The partnership between BayWa r.e. and Atmos, a prominent player in the Australian renewable energy landscape, underscores BayWa r.e.'s dedication to fostering sustainable growth in Australia. It leverages Atmos' local expertise and BayWa r.e.'s global experience, creating a formidable force for developing a series of wind projects across the country.

Daniel Gaefke, Director of Projects APAC, BayWa r.e. AG., said, "At BayWa r.e., we are committed to advancing the global transition towards clean energy. The sale of Karadoc combined with the strategic development partnership with Atmos as well as our growing renewable pipeline are a testament to this commitment. Our strategic partnership for a series of wind development projects with Atmos exemplifies our efforts to synergize local insight and international expertise for the betterment of Australia's renewable energy landscape."

BayWa r.e. sees Australia as an important market and is committed to growing the renewable energy sector in the region. The renewable energy developer continues to contribute to Australia's future of clean energy with a strong pipeline of projects.

The transaction stands as a remarkable achievement in BayWa r.e.'s portfolio, which has completed more than 300 MW of installed capacity in the country and symbolizes the company's progress in the renewable energy domain.

BayWa r.e. AG (BayWa r.e.)

At BayWa r.e. we r.e.think energy - how it is produced, stored and can be best used to enable the global renewable energy transition that is essential to the future of our planet.

We are a leading global developer, service supplier, distributor and solutions provider and have brought over 5.5 GW of energy online and manage over 10 GW of assets. We are also an Independent Power Producer with an expanding energy trading business.

BayWa r.e. works with businesses worldwide to provide tailored renewable solutions. Operating 100% carbon neutral, we are also committed to our own sustainability journey.

Every day, we are working hard to actively shape the future of energy in a diverse, equitable and inclusive workplace.

Our shareholders are BayWa AG, a EUR27.1 billion global business, and Energy Infrastructure Partners, a leader in energy infrastructure investment.

Visit: https://www.baywa-re.com.au

Contact information:

Mark Cooper
Head of Global Communications
Tel: +49 89 383932 3611
E-mail: mark.cooper@baywa-re.com

Salim Pathan
Marketing Manager, APAC
Tel: +66 62 698 7162
E-mail: salim.pathan@baywa-re.com

PRecious Communications for BayWa r.e. APAC
Tel: +65 6303 0567
E-Mail: baywa-re@preciouscomms.com

Source: BayWa r.e. AG
Sectors: Energy, Alternatives, Environment, ESG, Alternative Energy, Local Biz