Potentia Energy, a company co-owned by Enel Green Power, has reached an agreement with CVC DIF and Cbus Super to acquire controlling stakes in a diverse 1,100MW portfolio of renewable assets in Australia.
The portfolio includes around 700MW of operational wind and solar assets located across multiple states and the Australian Capital Territory. In addition, it features more than 430MW of late-stage developments, such as battery energy storage systems (BESS) in South Australia and Queensland, and a Western Australian wind project that has recently achieved financial close.
“We are incredibly pleased to announce our acquisition of a portfolio diversified across geographies, technologies and energy markets, including both operational and development stage projects,” said Werther Esposito, CEO of Potentia Energy. “The acquisition expands and complements our existing portfolio of solar and wind assets across the Wholesale Energy Market (WEM) and National Electricity Market (NEM).”
Esposito further highlighted the strategic importance of the new Western Australian assets, which will enable Potentia Energy to collaborate with Synergy in supporting the state’s energy transition and decarbonization goals.
“With strong support from our shareholders, Enel Green Power and INPEX, we are harnessing combined global expertise, innovative drive and access to competitive capital, to unlock extraordinary growth opportunities and work towards powering the potential of tomorrow,” Esposito added.
The transaction marks a significant milestone for Potentia Energy, which recently rebranded from Enel Green Power Australia. The company currently operates 309MW of solar capacity in South Australia and Victoria, and a 75MW wind farm in Western Australia.
Construction is ongoing for a 98MW solar and 20MW battery hybrid project in New South Wales, along with a 93MW solar farm under commissioning in Victoria.
Potentia Energy is also positioning itself for further growth with over 7GW of secured development rights across Australia. The company remains committed to an ambitious growth agenda, targeting an expansion in wind, solar, storage, and hybrid projects.
