Potentia Energy has secured about A$830m ($551.75m) in debt financing to expand its Australian clean energy portfolio.
The funding will back more than 600MW of operating and new wind, solar, and hybrid battery energy storage system (BESS) projects across six sites in Australia.
The debt facility is provided by a consortium of seven domestic and international financial institutions: Bank of China, BNP Paribas, the Hongkong and Shanghai Banking Corporation, Mizuho Bank, Societe Generale, Sumitomo Mitsui Banking, and Westpac Banking.
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Citi served as financial advisor, with Allens and Ashurst acting as legal advisors for Potentia Energy and the lenders, respectively.
The funds will support both existing renewable assets of Potentia Energy and help deliver new utility-scale solar, wind, and BESS projects currently being built in regional areas.
The company manages a portfolio of renewable energy assets throughout Australia.
In February this year, Potentia Energy agreed to acquire controlling stakes in a portfolio of more than 1GW of renewable assets across Australia, as part of its growth strategy.
This portfolio covers multiple regions and technologies and includes 700MW of operational wind and solar projects spread across several states and the Australian Capital Territory.
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