Potentia Energy, a joint venture (JV) between Enel Green Power and INPEX, has agreed to acquire controlling stakes in a renewable energy portfolio exceeding 1GW across Australia.
The deal, signed with CVC DIF and Cbus Super, is expected to significantly expand Potentia Energy’s presence in the country’s renewable sector.
The portfolio comprises approximately 700MW of operational wind and solar assets spanning multiple states and the Australian Capital Territory.
It also includes over 430MW of late-stage developments, such as battery energy storage systems (BESS) in South Australia and Queensland, and a wind project in Western Australia that recently reached financial close.
Potentia Energy CEO Werther Esposito said: “The acquisition expands and complements our existing portfolio of solar and wind assets across the Wholesale Energy Market (WEM) and National Electricity Market (NEM).
“We are committed to continue driving the energy transition across Australia. Our new Western Australian assets position us to work alongside Synergy in supporting the state’s energy transition and decarbonisation ambitions.”
Potentia Energy, formerly operating as Enel Green Power Australia since 2017, was recently rebranded.
Currently, the company manages 309MW of solar capacity across South Australia and Victoria, along with a 75MW wind farm in Western Australia.
It is also constructing a 98MW solar and a 20MW battery hybrid project in New South Wales, while a 93MW solar farm in Victoria is nearing commissioning.
The clean energy company has also secured rights for a development pipeline exceeding 7GW across Australia. It is pursuing an aggressive expansion strategy across wind, solar, storage, and hybrid projects in the country.
The transaction remains subject to regulatory approvals, including clearance from the Australian Foreign Investment Review Board (FIRB).
Last year, the New South Wales (NSW) Department of Planning, Housing, and Infrastructure granted development approval for EnergyAustralia’s Mt Piper BESS project, valued at more than A$1bn.
