Technical and ESG due diligence for Portfolio Finance of Wind, Solar PV, BESS, and Hybrid assets

Published November 2025

We’re thrilled to have supported Potentia Energy in reaching financial close on their $830 million financing of their National Renewables Portfolio – and just in time for their 1‑year anniversary! The engagement follows through from Potentia Energy’s successful acquisition of over 1 GW of renewable energy and storage assets in early 2025, which Everoze also supported as the technical due diligence advisor.

Potentia Energy engaged Everoze as Technical Adviser to deliver comprehensive Technical and ESG due diligence for the financing of a national portfolio exceeding 600MW, spanning wind, solar PV, battery energy storage systems (BESS) hybrid assets. Our scope included ESG diligence to ensure alignment with the Equator Principles. The national portfolio is both geographically and technologically diverse, comprising approximately 500 MW of operational wind and solar assets across multiple jurisdictions, a 98 MW/20MW hybrid solar PV currently under construction.

Everoze provided a comprehensive portfolio technical due diligence to the Client that covered a risk-based review of the technical, commercial and sustainability, governance aspects, including:

  • site suitability review and onsite inspections
  • land and neighbour agreements
  • development applications and permits
  • environmental and community diligence
  • technology and design review
  • independent Energy Yield Assessment
  • procurement and construction contracts review
  • grid connection review
  • operational performance review and benchmark
  • Financial Model technical assumptions review including revenue models, CapEx and OpEx review and benchmark
  • sustainability, governance, and social license to operate mandates
  • Equator Principles (IFC)

Gabri Mallarini, COO for Potentia Energy, said of our involvement: “We greatly appreciate Everoze’s national and international expertise throughout the due diligence phase of the transaction. Their thorough technical due diligence and in-depth analysis provided us and our Lenders with a comprehensive assessment of our portfolio. The team was professional, responsive, and collaborative to work with.”

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Potentia Energy, co-owned by Enel Green Power and INPEX, announced it has achieved Financial Close with the following Lenders:

  • Sumitomo Mitsui Banking Corporation (SMBC)
  • Mizuho Bank Ltd.
  • Bank of China (BOC)
  • Société Générale (SG)
  • Westpac Banking Corporation (WBC)
  • BNP Paribas
  • The Hongkong and Shanghai Banking Corporation Limited (HSBC)

Potentia Energy’s national portfolio is diversified across geographies, technologies, energy markets and development stages, offering valuable synergies with Potentia Energy’s existing portfolio across the Wholesale Energy Market (WEM) and National Electricity Market (NEM).

Everoze had the privilege of collaborating closely with Potentia Energy, the financial advisor, and the Lenders syndicate to identify, assess, and mitigate project risks through a 1-year long journey using our LiveDiligence platform. This involved detailed reviews of technical assumptions, procurement contracts, construction and operational strategies, technology selection, and ESG considerations to ensure the portfolio met lender requirements and aligned with industry best practices. By working through these risks together, we helped build confidence in the project’s bankability and long-term performance.

Jonathan Daniel, Finance Lead for Potentia Energy, said of our involvement: “Everoze delivered clear, rigorous technical due diligence for the Lenders, backed by a knowledgeable and highly engaged team.

Amr ElMekawy, Project Manager leading Everoze team, said of our involvement: “Congratulations to Potentia Energy on this marked vote of confidence in the renewables portfolio finance landscape in AU. We are honoured to have helped you realise this raging success and grateful for your continued trust in the Everoze brand. Thank you to our talented team for their dedication and relentless efforts – both local and international. It’s humbling to say the work done in Project Lumi Portfolio TDD leveraged over 200+ years’ worth of renewable energy experience, all coming together to a common goal over a year-long engagement. We look forward to continued success and collaboration with our Client, Investors, Lenders, Partners as one team to make a real difference in the renewable energy landscape in AU and beyond.”

The work was led by Amr El-Mekawy and supported by Jennifer Pan, David Millar, Jessica McMahon, Michael Quan, Simon Mason, Ragna Schmidt-Haupt, Benjamin Lock, Arnaud Ete, Mathieu Labour, and Siobhan GREEN.

We’d also like to thank our partners CPSA – Connections & Power Systems Advisory and Umwelt Environmental & Social Consultants for their support!