Capital/Financing Update • Jan 3, 2023
Capital/Financing Update
Open in ViewerOpens in native device viewer
Sydney & Paris, 4 January 2023
Neoen (ISIN: FR0011675362, Ticker: NEOEN), one of the world's leading producers of exclusively renewable energy, completed financial close in December 2022 on the first 209 MW of its 412 MW Goyder South Stage 1 wind farm located near Burra, in the Mid North region of South Australia.
This first tranche of 209 MW is underpinned by two long term power purchase agreements: a 14-year contract for 100 MW with the Australian Capital Territory (ACT) Government and a 10-year agreement for 40 MW with Flow Power, an Australian electricity retailer. It has been financed by a combination of equity provided by Neoen and debt facilities provided by a group of six lenders including ANZ, HSBC, Mizuho, Societe Generale, Sumitomo Mitsui Banking Corporation, and Westpac.
The remaining 203 MW of Goyder South Stage 1 will support the recently announced renewable energy baseload contract with BHP, a world-leading resources company. The financing of this second portion of Goyder South Stage 1 is expected to be completed in 2023.
Construction of Stage 1 in its entirety, comprising 412 MW and 75 wind turbines, is currently underway with operations expected to commence in 2024. Once operational it will be the largest wind power asset in Neoen's global portfolio.
Goyder South Stage 1 is the first phase of Neoen's flagship project known as Goyder Renewables Zone, a hybrid wind, solar and storage project. Goyder South has development approval for a total of 1200 MW of wind generation, 600 MW of solar generation and 900 MW of battery storage capacity, making it South Australia's largest renewable project.
Louis de Sambucy, Neoen Australia's Managing Director, said: "We are delighted to announce that Goyder South, Neoen's most ambitious giga-project, reached this key financial milestone at the end of 2022. I would like to thank the lender group for their trust and their commitment. We are on track to deliver Stage
| Contact | Australian media | International media | |
|---|---|---|---|
| Neoen [email protected] |
Red Havas [email protected] |
OPRG Financial Isabelle Laurent +33 6 42 37 54 17 [email protected] |
Fabrice Baron +33 6 14 08 29 81 [email protected] |
1 in 2024 and look forward to the contribution it will make to South Australia's ambition to become a major renewable energy exporter and to the ACT's goal of reaching net zero by 2045."
Xavier Barbaro, Neoen's Chairman and Chief Executive Officer concluded: "I congratulate the team on this achievement which comes just as we are celebrating our 10-year anniversary in Australia. This financing once again underlines the quality of Neoen's projects and our ability to work with a group of top tier banks. We are proud to be providing our customers in Australia and around the world with local and extremely competitive clean energy."
Founded in 2008, Neoen is one of the world's leading independent producers of exclusively renewable energy. With expertise in solar power, wind power and storage, the company plays an active role in the energy transition by producing competitive, green, local energy on four continents. After a five-fold increase in the last five years, its capacity in operation and under construction stands at 6.2 GW.
Neoen's flagship operations are France's most powerful solar farm (300 MWp) in Cestas, Finland's largest wind farm (404 MW) in Mutkalampi, one of the world's most competitive solar plants in Mexico (El Llano, 375 MWp) and two of the world's most powerful large-scale storage plants, both in Australia: Hornsdale Power Reserve (150 MW/193.5 MWh storage capacity) and the Victorian Big Battery (300 MW/450 MWh).
A high-growth company, Neoen is targeting 10 GW in operation or under construction by the end of 2025. Neoen is listed in Compartment A of Euronext's regulated market in Paris (ISIN code: FR0011675362, Ticker: NEOEN) on the SBF 120 and CAC Mid 60 indexes.
For more information: www.neoen.com
Contact
Australian media International media
Neoen [email protected]
Red Havas [email protected] OPRG Financial Isabelle Laurent +33 6 42 37 54 17 [email protected]
Fabrice Baron +33 6 14 08 29 81 [email protected]
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.