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Wednesday, April 9, 2025
HomeGeneral NewsPotentia Vitality completes acquisition of 1.2GW renewables portfolio in Australia

Potentia Vitality completes acquisition of 1.2GW renewables portfolio in Australia

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Potentia Vitality owns the 137.5MW Bungala 1 and a pair of initiatives, pictured above. Picture: Potentia Vitality.

Potentia Vitality, a three way partnership co-owned by Enel Inexperienced Energy and INPEX, has totally acquired a 1.2GW renewable power technology and power storage portfolio in Australia from infrastructure investor CVC DIF and superannuation fund Cbus Tremendous.

The portfolio contains 700MW photo voltaic PV and wind belongings throughout a number of states and the Australian Capital Territory. It additionally contains 430MW of late-stage developments, together with South Australian and Queensland battery power storage techniques (BESS) and a Western Australian wind mission that lately achieved monetary shut.

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A number of wind and photo voltaic PV belongings have additionally been acquired through an curiosity in Brilliant Vitality Investments, a developer, proprietor and operator of enterprise-scale renewable power technology belongings. That is through the cope with Cbus Tremendous, a superannuation fund.

This contains the 40MW Greenough River Photo voltaic Farm in Western Australia, the 20MW Royalla Photo voltaic Farm within the Australian Capital Territory, the 100MW Clare Photo voltaic Farm in North Queensland and the 275MW Bungala Photo voltaic Farm in South Australia.

Werther Esposito, CEO of Potentia Vitality, previously referred to as Enel Inexperienced Energy Australia earlier than its rebranding in December 2024, believes the acquisition will considerably increase the corporate’s capabilities throughout the Wholesale Electrical energy Market (WEM) and Nationwide Electrical energy Market (NEM).

“This acquisition isn’t only a step ahead; it’s an enormous leap towards our imaginative and prescient for delivering the renewable power Australia wants. Importantly, the Brilliant Vitality Investments partnership will facilitate collaboration with Synergy to help the state’s power transition and decarbonisation objectives,” Esposito mentioned.

The corporate has secured rights for a growth pipeline exceeding 7GW throughout Australia. It’s dedicated to a development agenda, aiming for a “substantial improve” in its put in capability throughout wind, photo voltaic, storage and hybrid initiatives all through the nation.

Potentia has three operational photo voltaic PV initiatives, totalling 310MW of capability throughout Australia. These embrace the 137.5MW Bungala 1 and a pair of initiatives, which whole 275MW and are situated close to Port Augusta, South Australia, and the 34.3MW Cohuna mission in Victoria. The 93MW Girgarre mission, additionally in Victoria, entered commissioning in Might 2024, with operations anticipated to start in early 2025.

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