Neoen’s Strategy to Achieve 10GW in Australia by 2030

Neoen Secures $1.8 Billion to Boost Australia’s Renewable Energy Capacity

Neoen has firmly established itself as the largest renewable energy provider in Australia, having secured $1.8 billion in debt financing aimed at expanding its generation and storage capabilities to a remarkable 10 gigawatts (GW) by 2030.

This funding, sourced from 13 lending institutions both within Australia and globally, will enable the development of five projects with a collective capacity of around 1.2GW. These projects include a mix of two wind farms, two battery energy storage systems, and a solar farm, located across South Australia, New South Wales, and Western Australia.

Key Projects Involved in the Financing

Highlighted among the funded assets are the Culcairn solar farm, boasting a capacity of 440-megawatt-peak (MWp) along with a 215MW/963MWh battery in New South Wales, the 179MW Narrogin wind farm in Western Australia, South Australia’s 150MW Hornsdale Power Reserve, and the initial phase of the Goyder South wind farm, which has a capacity of 209MW.

Expanding Financial Footprint

This latest financing deal pushes Neoen’s total debt financing in Australia since 2024 to over $5 billion, encompassing 20 assets that collectively reach 4.7GW in capacity. To date, Neoen has successfully developed more than 6GW of renewable generation and storage capabilities in the country.

Xavier Barbaro, CEO of Neoen Group, expressed confidence in the company’s strengthened financial standing, stating that this funding would pave the way for future investments and projects. He praised his team for successfully completing this significant financing endeavour, which he described as the largest in Neoen’s history. Barbaro highlighted the robustness and variety of their assets, underlining their ability to enhance their financing structure and bolster their financial position.

Prominent Assets and Key Investors

Among its flagship projects in Australia, Neoen’s portfolio features the Western Downs Green Power Hub located in Queensland and the impressive 560MW/2240MWh Collie Battery in Western Australia. This $1.8 billion financing package has garnered support from notable financial institutions such as ANZ, Bank of America, Bank of China, Clean Energy Finance Corporation, NAB, and ING.