Cbus has exited its investment in Bright Energy Investments, a major player in the renewable energy sector based in Western Australia.
The holding has been acquired by Potentia Energy as part of its strategy to secure “high-quality” renewable assets across Australia. This acquisition includes several assets previously held by CVC DIF, with whom Cbus co-owned Bright Energy.
Potentia Energy, which is co-owned by Enel Green Power and INPEX, said it has entered an agreement with CVC DIF and Cbus Super to acquire controlling stakes in a significant portfolio of over 1 gigawatt renewable assets across Australia.
The geographically and technologically diverse portfolio includes around 700 megawatts (MW) of operational wind and solar assets across multiple states and the ACT. Additionally, it features more than 430 MW of late-stage developments, including battery energy storage systems in South Australia and Queensland, as well as a wind project in Western Australia.
“The acquisition expands and complements our existing portfolio of solar and wind assets across the Wholesale Energy Market (WEM) and National Electricity Market (NEM),” said Werther Esposito, Potentia Energy CEO.
“With strong support from our shareholders, Enel Green Power and INPEX, we are harnessing combined global expertise, innovative drive and access to competitive capital, to unlock extraordinary growth opportunities and work towards powering the potential of tomorrow,” he said.
Potentia Energy, the new name for the company previously known as Enel Green Power Australia since 2017, currently operates 309 MW of solar capacity across South Australia and Victoria, along with a 75 MW wind farm in Western Australia. It is also constructing a 98 MW solar and 20 MW battery hybrid project in NSW, and commissioning a 93 MW solar farm in Victoria.
AustralianSuper has reported a 9.52 per cent return for its Balanced super option for the 2024–25 financial year, as markets delivered another year of strong performance despite the complex investing environment.
The profit-to-member super fund’s MySuper default option has returned 9.85 per cent for the financial year 2024–25.
Colonial First State (CFS) has announced solid double-digit returns for its MySuper balanced and growth equivalent funds during the financial year.
The super fund’s Future Saver High Growth option delivered an 11.9 per cent return for the financial year 2024–25, on the back of a diversified portfolio and actively managed investment strategy.