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Renewable Energy in Southeast Asia: Powering Sustainable FuturesRenewable Energy in Southeast Asia: Powering Sustainable Futures
Home » Potentia Energy to Acquire 1GW of Renewable Projects in Australia
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Potentia Energy to Acquire 1GW of Renewable Projects in Australia

Lakshita KapoorBy Lakshita KapoorFebruary 7, 2025No Comments
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Potentia Energy, formed through a partnership between Italy’s Enel Green Power and Japan’s Inpex Corporation, is set to acquire majority ownership in renewable energy projects totaling 1 gigawatt (GW) across Australia. The projects are being purchased from CVC DIF, the infrastructure division of private equity firm CVC, along with Australian pension fund Cbus Super. The deal’s value is estimated at around A$1 billion, pending approval from the Foreign Investment Review Board.

The acquisition includes 700 megawatts (MW) of wind and solar energy assets, along with 430 MW of battery energy storage projects in the late stages of development. These storage projects are located in South Australia and Queensland. Potentia Energy also stated that a wind farm in Western Australia is part of the acquired portfolio.

Potentia has been active in Australia for eight years. Prior to this acquisition, the company operated 309 MW of solar power in South Australia and Victoria, as well as a 75 MW wind farm in Western Australia. In addition to its existing assets, the energy company is constructing a 98 MW solar project with an integrated 20 MW battery storage system in New South Wales. The company has also commissioned a 93 MW solar farm in Victoria.

While Potentia’s activities focus on Australia, Inpex, as a Japanese company, has been involved in renewable energy projects in Japan. These include offshore wind studies in Akita Prefecture and solar energy installations across different regions. Japan is also expanding its renewable energy capacity through projects like the Fukushima Floating Offshore Wind Farm Demonstration Project, which has a capacity of 14 MW.

Another example in Japan is the Minami Aso Geothermal Power Plant in Kumamoto Prefecture, with an installed capacity of 5 MW, supplying local grids. Additionally, Japan is developing hydrogen production projects using renewable energy, such as the Fukushima Hydrogen Energy Research Field, which uses a 10 MW solar array to produce green hydrogen.

Acquisition Australia Italy Japan Potentia energy renewable energy projects
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