Potentia Energy Completes Acquisition of a 1 GW+ Portfolio of Renewable Energy Assets
- Potentia Energy announces the completion of its acquisition of a high-quality portfolio of over 1 gigawatt (GW) of renewable energy assets across Australia.
- The diverse portfolio includes over 700 megawatts (MW) of operational wind and solar assets, along with more than 430 MW of late-stage developments, enhancing Potentia Energy’s existing holdings.
- The deal has diversified the company’s portfolio across geographies and generation sources.
Potentia Energy announced today that it has reached completion under the agreement with CVC DIF and Cbus Super to acquire controlling stakes in a portfolio of more than 1 GW of renewable assets across Australia. This includes shares in Bright Energy Investments (BEI), a joint venture with WA state government owned Synergy.
The deal makes the Australian company, co-owned by Enel Green Power and INPEX, one of the largest renewable energy companies in the country.
Potentia Energy CEO, Werther Esposito, said the strategic acquisition demonstrated the company’s ambitious growth strategy and the support of its shareholders.
“This acquisition isn’t just a step forward, it’s a giant leap toward our vision for delivering the renewable energy Australia needs,” Mr Esposito said.
“The deal underscores our ambitious growth strategy, and we are excited to now integrate these diverse assets into our existing portfolio.
“It was made possible by the unwavering support and global expertise of our shareholders. Together, we are able to unlock remarkable growth opportunities.
“The acquisition significantly expands our capabilities within the Wholesale Electricity Market and National Electricity Market. Importantly, the Bright Energy Investments partnership will facilitate collaboration with Synergy to support the state’s energy transition and decarbonisation goals.”
This diverse portfolio encompasses over 700 MW of operational wind and solar projects located across multiple states and the Australian Capital Territory, in addition to more than 430 MW of late-stage developments, including Battery Energy Storage Systems (BESS) in South Australia and Queensland. The deal has outstanding operational sites; including the BEI assets of Stage One of the Warradarge Wind Farm (WA), the Greenough River Solar Farm (WA), the Albany Grasmere Wind Farm in (WA), the Clare Solar Farm (QLD), the Royalla Solar Farm (ACT), and additionally the remaining interest in Potentia Energy’s Bungala Solar Farm (SA).
Potentia Energy has an already established operating portfolio comprising over 400MW of solar capacity across South Australia and Victoria and a 75 MW wind farm in Western Australia. Ongoing projects include a 98 MW solar and 20 MW battery hybrid initiative in New South Wales.
With rights secured for a development pipeline of over 7GW across Australia, Potentia Energy is committed to an ambitious growth agenda, targeting a substantial increase in its installed capacity across wind, solar, storage and hybrid projects