INPEX-backed Australian firm acquires over 1GW of renewable energy assets
2025/02/10 10:37
Potentia Energy Homepage
(Source: Potentia Energy)
INPEX announced on February 6 that Potentia Energy Group, an Australian renewable energy company in which INPEX holds a 50% stake, has agreed to acquire a portfolio of renewable energy assets totaling more than 1 GW across Australia from CVC DIF, an independent Dutch infrastructure investment fund manager, and Cbus Super, a corporate superannuation fund targeting Australian workers primarily in the construction industry, and has signed an asset transfer agreement.
The portfolio includes wind, solar, and battery energy storage (BESS) projects that are operational or in the final stages of development across four Australian states and territories. Projects under development include two wind power projects (184 MW, 35 MW) and four solar power projects (50 MW, 275 MW, 138 MW and 25 MW), totaling 707 MW. Projects in later stages of development include one wind power project (108 MW) and two battery storage projects (225 MW, 100 MW) with a total capacity of 433 MW.
Potentia Energy was established in 2017 under the name Enel Green Power Australia, a wholly owned subsidiary of Enel Green Power, a subsidiary of Enel, an Italian energy giant. INPEX acquired a 50% stake in the company in July 2023 and changed the company name to its current name in December 2024.
Currently, the company owns and operates 309 MW of solar power plants in South Australia and Victoria, and 75 MW of wind power facilities in Western Australia. In addition, a 98 MW solar power plant with a 20 MW battery storage project is under construction in New South Wales, and a 93 MW solar power plant is under construction in Victoria. In addition, the company has secured rights to develop more than 7 GW of pipeline capacity across Australia.
