Neoen, a global leader in renewable energy production, has significantly expanded its Australian portfolio by securing an additional AUS$1.4 billion in financing. This funding supports the development of 1.3 GW of wind, solar and energy storage projects.
Neoen Secures Financing from Global Lenders
The transaction was positively received due to the portfolio's strong contracted revenue and its diverse mix of technologies (solar, wind, and storage) spread across various states. This financing package offers Neoen greater flexibility to expand its platform in the future. The debt is being provided by a consortium of 11 major Australian and international lenders which are: ANZ, Bank of China, Clean Energy Finance Corporation, The Hongkong & Shanghai Banking Corporation, ING, KfW IPEX-Bank, Mizuho, MUFG, SMBC, Societe Generale and Westpac.
The debt funds the development of three new assets, plus two projects currently under construction. This agreement builds on Neoen's initial portfolio debt financing tranche announced in February 2024. Combined, these arrangements now total over AUS$2 billion in debt for 15 assets, either operational or under construction, with a total capacity of 2.9 GW.
Jean-Christophe Cheylus, Neoen Australia’s CEO, said: “We are delighted to announce this second tranche of our portfolio financing, and we extend our thanks to all our lenders for their continued trust and commitment. This transaction underlines the unique depth of our portfolio in Australia. It serves to strengthen our owner-operator business model and provides us with a solid foundation for future growth.”
Renewable Energy Portfolio Expands with New Solar and Wind Farms
The portfolio is expanding with the addition of three solar farms in New South Wales — Griffith Solar Farm, Parkes Solar Farm and Dubbo Solar Hub — totalling 130 MW of capacity, as well as a wind farm in Queensland, the Kaban Green Power Hub, with a capacity of 157 MW.
The newly raised debt also supports the financing of three additional assets. Western Downs Battery Stage 1 in Queensland with a capacity of 270 MW/540 MWh and has secured multiple virtual battery agreements. The Culcairn Solar Farm with a capacity of 440 MWp in New South Wales has a 4-year power purchase agreement (PPA) with Smartest Energy for 50% of its output and a long-term energy services agreement (LTESA) with the NSW Government. Currently under construction, the farm is expected to be operational by 2026.
Collie Battery Stage 2 in Western Australia has a capacity of 341 MW/1363 MWh and a 300 MW/4-hour capacity services contract with the Australian Energy Market Operator (AEMO). Construction is underway, with completion scheduled for 4Q25.
Xavier Barbaro, Neoen’s Chairman and CEO, stated: “I would like to congratulate the Neoen Australia team on completing this extension to our portfolio financing so soon after the initial tranche, to support our rapid growth in Australia. Once again, it demonstrates Neoen’s unparalleled ability to create value, thanks to its maturing and diversified asset portfolio, and further cement our ambition to play an active role in the energy transition in Australia and around the world”.
Neoen Drives Renewable Energy Growth in Australia
Neoen is Australia's largest renewable energy company, with 4.3 GW of assets either in operation or under construction. With a robust development pipeline and a multibillion-dollar investment plan, Neoen aims to establish highly competitive assets in solar, wind, and battery storage across every state it operates in, using this portfolio to drive Australia's energy transition forward.