Potentia Energy secures 1.2GW renewable energy portfolio in Australia

Facebook
Twitter
LinkedIn
Reddit
Email
Potentia Energy owns the 137.5MW Bungala 1 and 2 projects, pictured above. Image: Potentia Energy.

Potentia Energy, a joint venture co-owned by Enel Green Power and INPEX, has entered into an agreement to acquire controlling stakes in a 1.2GW renewable energy generation and energy storage portfolio in Australia.

The portfolio will be acquired from infrastructure investor CVC DIF. It comprises 700MW of solar PV and wind assets across multiple states and the Australian Capital Territory.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

It also includes 430MW of late-stage developments, including South Australian and Queensland battery energy storage systems (BESS) and a Western Australian wind project that recently achieved financial close.

Several wind and solar PV assets will also be secured via an interest in Bright Energy Investments, a developer, owner and operator of enterprise-scale renewable energy generation assets. This is via a deal with Cbus Super, a superannuation fund.

This includes the 40MW Greenough River Solar Farm in Western Australia, the 20MW Royalla Solar Farm in the Australian Capital Territory, the 100MW Clare Solar Farm in north Queensland and the 275MW Bungala Solar Farm in South Australia.

Werther Esposito, CEO of Potentia Energy, formerly known as Enel Green Power Australia before its rebranding in December 2024, said the strategic acquisition affirms the company’s growth strategy for Australia and support by its shareholders.

“We are incredibly pleased to announce our acquisition of a portfolio diversified across geographies, technologies and energy markets, including both operational and development stage projects,” 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).”

Potentia Energy’s current portfolio of operating plants comprises 309MW of solar PV generation capacity across South Australia and Victoria and a 75MW wind farm in Western Australia. Construction is underway on a 98MW solar and 20MW BESS hybrid project in New South Wales, with an additional 93MW solar PV plant under commissioning in Victoria.

The company has secured rights for a development pipeline exceeding 7GW across Australia. It is committed to a growth agenda, aiming for a “substantial increase” in its installed capacity across wind, solar, storage and hybrid projects throughout the country.

Law firm Baker Hughes advised Potentia Energy on its agreement with CVC DIF and Cbus Super.

Potentia Energy’s presence in the Australian PV market

Potentia has three operational solar PV projects, totalling 310MW of capacity across Australia. These include the 137.5MW Bungala 1 and 2 projects, totalling 275MW, located near Port Augusta, South Australia; and the 34.3MW Cohuna project in Victoria. The 93MW Girgarre project, also in Victoria, entered commissioning in May 2024 with operations expected to begin in early 2025.

The Bungala projects, which both commenced full operation in 2020, consist of approximately 800,000 PV modules. Girgarre comprises around 169,500 PV modules.

Potentia, via moves made during its time as Enel Green Power Australia, inked several partnerships across 2024 to strengthen its position.

For instance, the company inked a ten-year power purchase agreement (PPA) with Adelaide-headquartered renewable energy developer ZEN Energy to secure green energy produced from a 98MW solar PV project in New South Wales.

The Quorn Park Hybrid Project is located 10km northwest of Parkes, close to the Central-West Orana Renewable Energy Zone (REZ), which last year became the first REZ to obtain Commonwealth planning approval.

In the same REZ, Enel Green Power Australia acquired the Tallawang hybrid project, comprising a 500MWac solar PV plant with a co-located 500MW/1,000MWh BESS. It is situated 8km northwest of Gulgong in the Mid-West Regional Council area and will have an operational lifespan of 35 years.

The organisation has also been examining the future of solar PV in Australia, particularly module recycling and repowering. In August 2024, the company signed a long-term agreement with ElecSome to recycle solar PV modules across its Australian portfolio, citing that 1.4 million modules will reach end-of-life in 2025.

The estimated waste generated from non-usable PV panels is projected to be 145,000 tonnes annually by 2030 in Australia. By ensuring solar upcycling plants are readily available for this quantity, critical resources can be recycled and used for other means, aiding other vital industries.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

June 30, 2025
Voting on the US tax reconciliation bill is expected to begin in the Senate today, following a draft published on Friday that hit clean energy tax credits hard.
June 30, 2025
The Spanish government has launched a €100 million (US$117 million) aid programme to help promote the recycling and reuse of materials from renewable energy projects.
June 30, 2025
Australian module manufacturer Tindo Solar has secured a 30MW solar module supply agreement to power Australia's first "net zero pipeline”.
June 27, 2025
The UK government has decided it will not sign a Contract for Difference (CfD) with Xlinks for the 11.5GW Morroco-UK interconnector project.
June 27, 2025
Renewables investment platform Nexwell Power has signed a round of power purchase agreements (PPAs) with “one of the largest” US tech companies for solar PV capacity to be built in Spain.
June 27, 2025
Statkraft has signed PPAs with Better Energy to purchase energy from two solar power plants in Poland with a total capacity of 64GWh.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico