Potentia Energy has finalized its acquisition of controlling stakes in a portfolio of more than 1 gigawatt (GW) of renewable energy assets across Australia, under an agreement with CVC DIF and Cbus Super.
The deal includes shares in Bright Energy Investments (BEI), a joint venture with the Western Australian state government-owned Synergy. This acquisition makes Potentia, co-owned by Enel Green Power and INPEX, one of the largest renewable energy companies in Australia.
The portfolio consists of over 700 megawatts (MW) of operational wind and solar projects across various states and the Australian Capital Territory, as well as more than 430 MW of late-stage developments, which include battery storage projects in South Australia and Queensland.
Key assets included in the deal are the BEI interests in the Warradarge Wind Farm (WA), the Greenough River Solar Farm (WA), the Albany Grasmere Wind Farm (WA), the Clare Solar Farm (QLD), the Royalla Solar Farm (ACT), and the remaining stake in Potentia's Bungala Solar Farm (SA).
Werther Esposito, CEO of Potentia Energy, commented: “This acquisition isn't just a step forward, it's a giant leap toward our vision for delivering the renewable energy Australia needs. 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.”
Esposito also noted that the acquisition enhances Potentia's capabilities within Australia's Wholesale Electricity Market and National Electricity Market, further strengthening its position in the country's energy landscape. Additionally, the Bright Energy Investments partnership will support collaboration with Synergy, contributing to Western Australia's energy transition and decarbonization goals.
