White & Case advises CVC DIF and Cbus on renewable energy auction and project financing

Global law firm White & Case LLP has advised CVC DIF and Cbus on their agreement to sell their combined portfolio of renewable energy assets in Australia, including an 80.1 percent stake in Bright Energy Investments, to Potentia Energy (formerly Enel Green Power Australia).

"These transactions are a testament to White & Case's expertise in supporting clients, including global infrastructure funds, through the entire lifecycle of their investments," said White & Case partner Caroline Sherrell, who co-led the Firm's deal team.

The more than 1 GW portfolio includes solar, wind and battery (BESS) projects in the National Electricity Market and the Wholesale Energy Market.

White & Case also advised CVC DIF and Cbus on the expansion and project financing of stage 2 of the Warradarge Wind Farm. The expansion involves the construction of an additional 30 wind turbine generators providing 108 MW of increased capacity to the existing 184 MW operating wind farm, and secured funding from domestic and international financial institutions.

"The Warradarge Wind Farm will be Western Australia's largest wind farm once the stage 2 expansion and project financing are complete," said White & Case partner Joel Rennie, who co-led the Firm's deal team.

CVC DIF is a global leading mid-market infrastructure equity fund manager and forms the infrastructure strategy of CVC, a leading global private markets manager.

Construction and Building Unions Superannuation (Cbus) is an Australian industry superannuation fund with more than A$94 billion of funds under management as of June 2024.

The White & Case team which advised on the transaction was led by partners Joel Rennie and Caroline Sherrell (both Sydney) and included associates Girish Rao (Melbourne), Kevin Chen, Bru Hammer and Isabella Jarrett (all Sydney).

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