Potentia Energy acquires 1 GW renewable portfolio across Australia

Australia-based Potentia Energy, co-owned by Enel Green Power and INPEX, acquired over 1 GW of renewable energy projects in Australia. This included 700 MW of working wind and solar farms across several states and the Australian Capital Territory. It also had more than 430 MW of projects in the final stages of development. These included battery energy storage projects in South Australia and Queensland and a Western Australian wind project that reached financial close. The acquisition expanded Potentia Energy’s portfolio within the Wholesale Energy Market (WEM) and National Electricity Market (NEM). The company, previously operating as Enel Green Power Australia since 2017, rebranded as Potentia Energy. Its operational capacity included 309 MW of solar in South Australia and Victoria and a 75 MW wind farm in Western Australia. Construction was underway on multiple solar and battery hybrid projects. The acquisition remained subject to Foreign Investment Review Board (FIRB) approval.