Potentia Energy has reached an agreement with CVC DIF and Cbus Super to acquire a majority stake in an energy portfolio exceeding 1 GW in Australia. This transaction aligns with the company’s strategy to strengthen its presence in the Australian renewable energy market.
A portfolio of operational and development-stage assets
The acquired portfolio includes approximately 700 megawatts (MW) of already operational wind and solar assets. Additionally, more than 430 MW of late-stage development projects are involved, including a Battery Energy Storage System (BESS) in South Australia and Queensland, as well as a wind project in Western Australia.
Werther Esposito, CEO of Potentia Energy, stated that this acquisition would complement the company’s existing portfolio, which is already active in the Wholesale Energy Market (WEM) and the National Electricity Market (NEM).
Strategic expansion in the Australian market
Prior to this acquisition, Potentia Energy already operated 309 MW of solar capacity in South Australia and Victoria, along with a 75 MW wind farm in Western Australia. Additionally, the company is currently constructing a hybrid solar-battery project comprising 98 MW of solar power and 20 MW of storage in New South Wales. Another 93 MW solar farm is in the commissioning phase in Victoria.
Completion subject to regulatory approvals
The completion of this transaction remains subject to several regulatory conditions, including approval from the Australian Foreign Investment Review Board. This step is standard for transactions of this scale and must be cleared before the acquisition is finalized.
