Australia’s Cbus Super will take a direct equity stake in Atmos Renewables, one of the country’s prominent renewable energy operators, in a move aimed at enhancing long-term returns for members while contributing to the national energy transition.
The investment will be made in partnership with Igneo Infrastructure Partners, which founded Atmos in 2020 and will retain operational control of the business. Igneo will continue to oversee strategic decisions across the renewable platform.
Atmos currently manages 18 renewable energy projects across six Australian states, with a combined capacity of 1.5 gigawatts—enough to supply electricity to roughly 775,000 households.
“This investment will stack up on returns, but also has the additional benefit of supporting a sustainable energy future for Australians,” said Cbus Chief Investment Officer Leigh Gavin.
Gavin added that Atmos’ “geographic diversity, long-term contracts and potential development pipeline make it a highly attractive investment.”
The move will support two key initiatives under the Atmos platform. The first is the development of the 100MW/400MWh Merredin Battery Energy Storage System in Western Australia, Atmos’ first greenfield battery project. With an estimated cost of A$220 million, the battery is expected to be operational by mid-2027 and create approximately 70 construction jobs.
The second initiative is the full acquisition of the Hornsdale wind farm in South Australia. Atmos will increase its ownership from 23.4% to 100%, aiming to strengthen its base of contracted revenues.
Cbus said the partnership would increase members’ exposure to a broader set of clean energy assets and further aligns its investment strategy with Australia’s shift toward renewables.
“As well as providing long-term investment returns, the investment supports Australia’s renewable energy industry, a sector that employs many Cbus members,” Gavin said.
Cbus has invested more than A$2.1 billion in renewable energy and enabling infrastructure to date, underscoring its ongoing commitment to climate-aligned assets.
