Australia’s Atmos Renewables refinances green loan portfolio

Australia-based Atmos Renewables has achieved financial close on its green loan portfolio refinancing, a move enabling it to progress its renewable energy development pipeline into construction.

The refinancing consolidates existing asset-level debt across the company’s portfolio of solar, wind and storage assets. According to Sydney-headquartered Atoms, this is one of the largest green portfolio financings in the Australian renewables sector to date.

The transaction was significantly oversubscribed, with a broad syndicate of domestic and international banks participating.

With the fresh funds in place, Atmos Renewables expects to reach financial close on multiple projects included in its portfolio over the next 12-18 months. Additionally, the proceeds will directly support the 100-MW/400-MWh Merredin battery, which is already under construction in Western Australia, and several other priority projects such as the Parron Maam Marang wind farm and the 300-MW Heywood battery project in Victoria. The latter is progressing toward financial close over the next 18 months.

“The additional flexibility achieved through this refinancing allows us to accelerate our pipeline and transition more decisively into developing and constructing our own projects, in addition to acquisitions,” said CEO Nick Learmont.