Potentia Energy, a joint venture co-owned by Italian energy giant Enel Green Power and Japanese firm INPEX, has acquired an 80.1 per cent stake in Bright Energy Investments (BEI).
The shares were purchased from superannuation fund Cbus Super and Dutch-based funds manager CVC DIF, marking a significant expansion of Potentia Energy’s renewable energy portfolio in Australia.
Bright Energy Investments was established in 2018 as a joint venture between Western Australian electricity generator and retailer Synergy, Cbus Super, and CVC DIF.
The company owns several key renewable energy assets in Western Australia, including the Warradarge Wind Farm, Albany Grasmere Wind Farm, and Greenough River Solar Farm.
These projects collectively contribute to the state’s renewable energy generation and decarbonisation goals.
The acquisition comes at a pivotal moment for BEI.
In December 2024, BEI announced plans to expand the Warradarge Wind Farm by adding 30 wind turbines, boosting its capacity by 103 megawatts (MW).
Upon completion, Warradarge will become the largest wind farm in Western Australia and one of the most efficient in the country.
Tom Frood, Executive General Manager of BEI, expressed optimism about the partnership with Potentia Energy.
“Potentia Energy develops and operates high-quality renewable energy assets across Australia, so this marks an exciting new chapter for BEI,” Frood stated.
Potentia Energy has been rapidly growing its renewable energy footprint since entering the Australian market in 2017.
The acquisition of BEI aligns with its ambitious growth strategy to diversify assets across geographies and technologies.
CEO Werther Esposito highlighted the importance of this deal: “This acquisition isn’t just a step forward; it’s a giant leap toward our vision for delivering the renewable energy Australia needs.”
The deal also strengthens Potentia’s collaboration with Synergy to support Western Australia’s energy transition.
With over 700 MW of operational wind and solar assets and more than 430 MW of late-stage developments now under its control, Potentia Energy is positioned as one of Australia’s leading renewable energy companies.
