Neoen has taken a significant step to expand its Australian operations, securing $1.4 billion in debt financing to fund an additional 1.3 gigawatts (GW) of wind, solar, and storage assets.
This financing more than doubles Neoen’s portfolio financing in the country, strengthening its leadership in the renewable energy sector.
A Major Boost for Renewable Energy in Australia
Neoen’s new financing deal includes loans with maturities of 5.5 and 7 years and will support three major projects, two of which are already under construction. The new tranche adds to the company’s first round of portfolio debt financing, announced in February 2024.
Together, these financing rounds total over $2 billion in debt, covering 15 renewable energy assets across Australia with a combined capacity of 2.9 GW.
The financing deal attracted strong support, driven by the portfolio’s diversified energy mix and high levels of contracted revenue. This arrangement also gives Neoen greater financial flexibility, enabling the company to further expand its platform.
Neoen’s Long-Term Commitment to Renewable Energy
Neoen is the largest renewable energy company in Australia, with 4.3 GW of assets either in operation or under construction. It aims to develop highly competitive assets across solar, wind, and battery storage in every state where it operates.
Jean-Christophe Cheylus, CEO of Neoen Australia, commented on the new financing: “We are delighted to announce this second tranche of our portfolio financing. 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 strengthens our owner-operator business model and provides a solid foundation for future growth.”
Neoen’s Chairman and CEO, Xavier Barbaro, also praised the company’s progress: “I would like to congratulate the Neoen Australia team on completing this extension to our portfolio financing so soon after the initial tranche. This demonstrates our unparalleled ability to create value through a maturing and diversified asset portfolio. It also reinforces our ambition to play an active role in Australia’s energy transition and the global push toward renewable energy.”
Accelerating Australia’s Energy Transition
With an extensive development pipeline and a multi-billion-dollar investment strategy, Neoen is playing a crucial role in accelerating Australia’s shift to renewable energy. The company’s latest financing round supports new projects while also ensuring long-term stability and scalability in its operations.
Neoen’s continued expansion of its renewable energy portfolio aligns with Australia’s broader clean energy goals. As the country works to reduce carbon emissions and increase its reliance on sustainable energy sources, investments like these are essential for securing a greener future.
This $1.4 billion financing marks a significant milestone for Neoen Australia’s renewable energy expansion. With a growing portfolio of wind, solar, and battery storage assets, the company remains at the forefront of the industry. Strong backing from major lenders and strategic investments in diverse projects reinforce its commitment to leading Australia’s clean energy transition. As the demand for sustainable power grows, Neoen’s continued expansion is set to shape the country’s renewable energy landscape for years to come.
