Potentia Energy has reached completion under the agreement with CVC DIF and Cbus Super to acquire controlling stakes in a portfolio of more than 1GW 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 Potentia, co-owned by Enel Green Power and INPEX, one of the largest renewable energy companies in the country.
This diverse portfolio encompasses over 700MW 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 batteries in South Australia and Queensland.
The deal includes the BEI assets of Stage One of 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 additionally the remaining interest in Potentia Energy’s Bungala Solar Farm (SA).
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,” 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.”