Neoen Secures $1.1 Billion Funding for Groundbreaking Four-Hour Battery Project

Neoen, a prominent French renewable energy and battery storage developer, has successfully raised more than $1.1 billion in new debt finance for its Australian assets. This funding includes support for its inaugural four-hour battery installation currently in progress in Western Australia.

As the largest independent renewable energy developer in Australia, Neoen boasts an impressive 3.75 GW of capacity either operational or in various stages of construction. The majority of the debt package, sourced from 11 different Australian and international institutions, is allocated to seven existing wind and solar assets totalling approximately 1.3 GW within the National Electricity Market.

Key Projects Included in the Financing Package

Among the projects covered by this financing are the Numurkah, Western Downs, and Coleambally solar farms, along with four wind farms including Bulgana in Victoria and the three phases of the Hornsdale wind complex in South Australia.

Support for Battery Projects

Part of the funding secured by Neoen includes $55 million from the Clean Energy Finance Corp (CEFC) to bolster its first four-hour battery initiative. The Collie battery, with a capacity of 219 MW and 877 MWh, is on track for completion later this year. This battery, along with others, aims to optimise