Global renewables giant Neoen has raised $A1.8 billion in new debt finance for a portfolio of Australian assets that range from under construction to in full operation, including two wind farms, two battery storage projects and a solar farm.
Neoen, which is owned by Canadian investment giant Brookfield Asset Management, and is widely regarded as the most successful renewables and storage developer in the country, says the funding package will boost its capacity to invest in new projects.
The company, which became famous for building the original “Tesla big battery” at Hornsdale, has already built 6 GW of wind, solar and battery capacity across the country and aims to reach 10 GW by the end of the decade.
“This transaction reflects the quality and diversity of our assets and demonstrates our ability to optimise our financing structure and strengthen our balance sheet,” Neoen Group CEO Xavier Barbara said.
“This, in turn, reinforces our capacity to invest in new projects and to consolidate Neoen’s position as the leading player in Australia’s energy transition.”
The new financing package was secured through a group of 13 Australian and international lenders, including ANZ, NAB, Westpac and the Australia’s green bank, the Clean Energy Finance Corporation (CEFC). International lenders include Bank of America, Bank of China, Export Development Canada, HSBC and Société Générale.
Neoen, although French-based, conducts a lot of its business in Australia, and its project include the Hornsdale wind and battery projects in South Australia, the newly completed Culcairn solar farm in NSW, and the still expanding Western Downs solar farm and battery complex in Western Australia, and the giant Collie battery in Western Australia.
The portfolio of refinanced assets includes the Hornsdale battery – the world’s first big battery, which has since grown in capacity and duration to 150 megawatts (MW) and 193.5 megawatt-hours (MWh) – and Culcairn, which is also adding a 215 MW and 963 MWh big battery to the site.
Also part of the new debt package is the Goyder South Wind Farm Stage 1, a 209 MW operational facility located near Burra, also in South Australia, and the 179 MW Narrogin Wind Farm which has just started construction in Western Australia.
The new finance is another big coup for the Brookfield-backed Neoen and a big vote of investor confidence in both the company and its plans for the Australian market, which centre around growing its current 6 gigawatt (GW) portfolio of wind, solar and storage capacity to 10 GW by 2030.
Among its big new projects are a potential expansion of the Goyder renewable energy zone in South Australia, the Yathro and Kadathini wind projects in W.A., the Mt Hopeful wind project in Queensland, and the Thunderbolt and Tchelery wind farms in NSW.
Neoen says that it has now raised a total of more than $5 billion in debt financing since 2024, covering 4.7 GW of combined capacity distributed across 20 wind, solar and storage assets in multiple Australian states.
Brookfield, which completed its purchase of Neoen in 2025 for more than $10 billion, said at the time that it intended to double the rollout of the developer’s projects, and sell some of its assets.
Brookfield had attempted to buy Origin Energy in an agreed $20 billion that was shot down by AustralianSuper. Brookfield promised to roll out 12 GW of new projects by 2032 if it owned Origin, but Australia’s biggest energy retailer has not built any new wind and solar since that deal was scrapped, although it has invested heavily in battery storage.
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Sophie Vorrath
Sophie is editor of Renew Economy and editor of its sister site, One Step Off The Grid . She is the co-host of the Solar Insiders Podcast. Sophie has been writing about clean energy for more than a decade.
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