CVC DIF Divests 1 GW+ Renewable Portfolio to Potentia Energy
Deal News | Feb 06, 2025 | CVC Capital Partners
CVC DIF, the infrastructure strategy entity of global private markets manager CVC Capital Partners, has announced the sale of a substantial portfolio of renewable energy projects in Australia to Potentia Energy. The portfolio being divested includes over 1 GW of renewable capacity, comprising both operational wind and solar projects and late-stage development projects focusing on wind and battery energy storage systems (BESS). Notably, Bright Energy Investments, which is the largest operational renewable platform in Western Australia, is part of this sale, and several solar farms and BESS undertakings in Queensland, South Australia, and the Australian Capital Territory are also included. CVC DIF has significantly expanded these projects during its ownership, adding new development initiatives, particularly in the BESS sector. For this transaction, Macquarie Capital acted as the financial advisor, while White & Case provided legal advisory services. Andrew Freeman, Partner and Head of Divestments at CVC DIF, highlighted the firm's focus on enhancing financial performance and sustainable growth in their investment portfolio, emphasizing their commitment to the energy transition.
Sectors
- Renewable Energy
- Private Equity
- Infrastructure Investment
Geography
- Australia – The entire portfolio being discussed is located in Australia, with specific mention of Western Australia, Queensland, South Australia, and Australian Capital Territory.
Industry
- Renewable Energy – The article discusses the sale of a significant portfolio of renewable energy projects involving wind, solar, and battery energy storage systems.
- Private Equity – The transaction was orchestrated by CVC DIF, a strategy of CVC Capital Partners, indicating involvement in private equity activities.
- Infrastructure Investment – CVC DIF focuses on infrastructure investments, indicating that this divestment is part of a broader infrastructure strategy.
Financials
- 1 GW+ – The renewable energy capacity of the portfolio sold includes over 1 gigawatt of operational and development projects.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| CVC DIF | Selling Company | Company | The infrastructure strategy of CVC Capital Partners, responsible for the sale of the renewable energy portfolio. |
| Potentia Energy | Bidding Company | Company | The buyer of the portfolio, previously known as Enel Green Power Australia. |
| Macquarie Capital | Financial Advisor | Company | Provided financial advisory services to CVC DIF for the transaction. |
| White & Case | Legal Advisor | Company | Supplied legal advisory services to CVC DIF for the transaction. |
| Cbus Super | Co-Shareholder | Company | Co-shareholder in Bright Energy Investments, participating in the sale with CVC DIF. |