- Potentia Energy acquires over 1 GW of renewable energy assets in Australia, including 700 MW of operational wind and solar projects.
- The deal includes over 430 MW of late-stage development projects, such as Battery Energy Storage Systems (BESS) and wind farms.
- Potentia plans to integrate these assets into its portfolio, boosting its presence in Australia’s renewable energy market.
Potentia Energy, co-owned by Enel Green Power and INPEX, has secured more than 1 gigawatt (GW) of renewable energy assets in Australia through an acquisition agreement with CVC DIF and Cbus Super. This deal marks a significant expansion of Potentia’s footprint in the Australian renewable energy market.
The acquisition includes around 700 megawatts (MW) of operational wind and solar energy assets and over 430 MW of late-stage development projects in the company’s portfolio. These projects feature a Battery Energy Storage System (BESS) slated for South Australia and Queensland and a wind farm located in Western Australia. This move significantly advances Potentia’s strategy of growing its renewable energy capacity in key regions.
Werther Esposito, CEO of Potentia Energy, emphasised the importance of this acquisition, stating that it strengthens the company’s overall portfolio and enhances its ability to participate in both the Wholesale Energy Market (WEM) and the National Electricity Market (NEM). “This acquisition strengthens our position in Australia’s renewable energy market and expands our capabilities,” Esposito said.
Before this acquisition, Potentia Energy operated several renewable energy projects across Australia. These include 309 MW of solar capacity in South Australia and Victoria and a 75 MW wind farm in Western Australia. The company is also developing a hybrid solar-battery project in New South Wales, adding 98 MW of solar energy and 20 MW of battery storage. Additionally, Potentia is nearing the commissioning phase for a 93 MW solar farm in Victoria.
Potentia Energy plans to integrate these newly acquired assets into its portfolio, boosting its renewable energy production and positioning the company for further growth. These additional assets will support Australia’s ongoing shift toward clean energy while also helping the company play a more significant role in its efforts to meet its renewable energy targets.
The deal requires regulatory approval, including clearance from the Australian Foreign Investment Review Board (FIRB). This regulatory step ensures compliance with Australia’s foreign investment policies and represents a critical step before the acquisition becomes official.
Potentia Energy’s latest move aligns with its broader goal of expanding its global renewable energy portfolio. The company continues to invest in projects that enhance its presence in key markets like Australia, where demand for green energy solutions remains strong.
By securing these assets, Potentia Energy positions itself as a major player in Australia’s renewable energy landscape. The company remains committed to advancing clean energy technologies and supporting global efforts to reduce carbon emissions. With this acquisition, Potentia Energy takes another significant step toward contributing to a more sustainable future while enhancing its international standing in the renewable energy sector.