Technical and Sustainability Due Diligence for a portfolio of Wind, Solar PV and BESS sites

Published in February 2025

Potentia Energy appointed Everoze as the Technical Adviser to conduct Technical Due Diligence for the acquisition of a 1 giga-watt portfolio of Wind, Solar PV And BESS assets and developments including an ESG review for alignment against the Equator Principles and EGPA’s sustainability, governance and HSE policy mandates.

The geographically and technologically diverse portfolio comprises approximately 700 megawatts (MW) of operational wind and solar assets across multiple states and the Australian Capital Territory, alongside more than 430 MW of late-stage developments, including South Australian and Queensland Battery Energy Storage System (BESS), and a Western Australian wind project which recently achieved Financial Close.

Potentia Energy, co-owned by Enel Green Power and INPEX, announced it has entered an agreement with CVC DIF and Cbus Super to acquire controlling stakes in the strategic portfolio of over 1 gigawatt (GW) renewable assets across Australia in February 2025.

The assets are 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).

Gabri Mallarini, the COO for Potentia Energy, mentioned:

« We greatly appreciate Everoze’s expertise throughout the due diligence phase of the transaction. Their thorough technical due diligence and in-depth analysis provided us with a comprehensive assessment of the portfolio. The team was professional, responsive and collaborative to work with. »

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;

  • Red Flags TDD during NBO stage;
  • site characteristics and site inspections;
  • competing projects;
  • land and neighbour agreements;
  • development applications and permits;
  • environmental and community risks;
  • technology and design;
  • energy yield analysis;
  • grid connection;
  • operational performance;
  • Scenario analysis for Asset Lifetime extension and MRAs;
  • Financial Model technical assumptions review including CapEx and OpEx;
  • sustainability, governance, and social license to operate mandates; and
  • Equator Principles (IFC).

Three smiling people wearing hi-viz clothing and hard hats posing in fromt of an onshore wind turbine in bright sunshine

Amr ElMekawy, project manager leading Everoze team working on this transaction, added: “It is always a moment to rejoice when we see our Client being successful in their objective and congratulating their unwavering efforts and commitment. What is more rewarding is recognizing our team’s dedication in supporting them every step of the journey, and seeing their and our contributions becoming fruitful. I’m very proud of our team comprising some of the most talented individuals in the renewables industry. Over the course of many months we have worked tirelessly and integrated seamlessly with Potentia Energy’s team to a common cause.”