Cbus announces exit from renewable energy player

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.