Atmos Renewables takes 1 GW of Capacity Investment Scheme projects through financial close
All Press releases2 October 2026: Igneo Infrastructure Partners (Igneo) and its Australian renewables business, Atmos Renewables (Atmos), today announced the financial close of two major energy projects supported by the Australian Government’s Capacity Investment Scheme (CIS): the 400 MW / 1,600 MWh Teebar Battery Energy Storage System (BESS) in Queensland and the 470 MW Parron Maam Marang Wind Farm in Western Australia.
Together with the 100 MW / 400 MWh Merredin Battery Energy Storage System, which reached the same milestone in June 2025, Atmos has now taken 970 MW of CIS-backed capacity through financial close, reinforcing its ability to progress large-scale renewable energy and storage projects from development into construction and operation.
Bringing large scale energy infrastructure projects to market is always a complex and challenging process, and Atmos is proud to have reached this milestone on three CIS-supported projects over the past 16 months.
Located beside Powerlink’s Teebar Creek substation in Queensland’s Fraser Coast region, Teebar BESS will provide four hours of energy storage. The project will store electricity when supply is abundant and dispatch it when demand is higher, helping to support reliability and make more effective use of renewable generation.
Parron Maam Marang is a 470 MW wind farm located in Western Australia’s Wheatbelt region. The project will supply renewable electricity under a long-term power purchase agreement with Synergy, Western Australia’s largest electricity retailer.
Atmos Renewables CEO Nigel Baker said that achieving the two financial closes within days of each other demonstrates Atmos’ ability to progress major renewable energy and storage projects from development through to construction and ultimately operations.
“The CIS provides important long-term revenue support, but an award is only one step. Projects still need to secure financing, grid access, wider commercial arrangements and a credible delivery pathway,” Mr Baker said.
“Reaching this point has required sustained collaboration across state and federal governments, lenders, network businesses, commercial partners and delivery partners,” Mr Baker said.
“We thank our project partners, financing partners and the Australian Government for their contribution to these milestones.”
Danny Latham, Partner and Head of Igneo Infrastructure Partners – Australia and New Zealand, said reaching financial close on almost 1GW of CIS-backed capacity demonstrates the strength of the Atmos platform and the attractiveness of the opportunity ahead.
“These major milestones demonstrate Atmos’ ability to develop, finance and deliver large-scale renewable energy infrastructure that supports Australia’s energy transition while generating long-term value for our investors. Supported by the long-term commitment of Igneo investors including MLC and CBUS, we continue to see significant opportunity to invest in renewable generation and storage capacity,” Mr Latham said.
Atmos will retain ownership of Teebar[NB2] BESS and Parron Maam Marang through construction and operate both projects once complete. They are the next phase of a national portfolio that already includes over 1.5GW of operating and in-construction wind, solar and storage capacity, reflecting Atmos’s strategy to develop projects it will responsibly own and operate for the long term.
About Atmos Renewables
Atmos Renewables is a leading Australian renewable energy company with ownership of over 1.5 GW of operating and in-construction wind, solar and energy storage assets, and a significant pipeline of developments. Committed to powering a sustainable future, Atmos Renewables focuses on developing, operating, and responsibly investing in clean energy projects that deliver positive environmental outcomes and lasting community relationships.
About Igneo Infrastructure Partners
Igneo is a global infrastructure investment manager and is an autonomous investment team in the First Sentier Group. It invests in high-quality, mature, mid-market infrastructure companies in renewables, digital infrastructure, waste management, water utilities and transportation / logistics 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 A$42.8Bn worth of assets (as at 30 June 2026) on behalf of more than 200 investors around the world.
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