Spark Renewables owns the 100 megawatts Bomen Solar Farm near Wagga Wagga in NSW and has a development portfolio that could add another 3 gigawatts capacity down the line.

It landed on the auction block in mid-January, two years after KKR, Ontario Teachers’ Pension Plan and Canada’s PSP Investments took Spark Infrastructure off the ASX boards for $5.2 billion in 2021.

The takeover documents estimated the renewables development pipeline would need a whopping $6 billion of capital expenditure through to 2026, should the owner want to develop all the projects.