Neoen has solidified its position as Australia’s largest renewable energy company, with $1.8 billion of debt financing to propel the company towards 10 gigawatts (GW) of generation and storage capacity nationwide by 2030.
The financing, provided by 13 Australian and international lenders, will support five assets with a combined capacity of approximately 1.2GW across South Australia, New South Wales and Western Australia, spanning two wind farms, two battery energy storage systems and one solar farm.
Among the assets are the 440-megawatt-peak (MWp) Culcairn solar farm and its 215MW/963MWh battery in New South Wales, the 179MW Narrogin wind farm in Western Australia, South Australia’s 150MW Hornsdale Power Reserve and Stage 1A (209MW) of the Goyder South wind farm.
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The latest transaction brings Neoen’s Australian debt financing since 2024 to more than $5 billion, covering 20 assets with a combined capacity of 4.7GW. The company has developed more than 6GW of renewable generation and storage capacity in Australia to date.
Neoen Group chief executive officer Xavier Barbaro said the financing would strengthen the company’s balance sheet and its ability to invest in future projects.
“I would like to congratulate the Neoen team on the successful completion of this portfolio financing in Australia, our largest financing to date,” he said. “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’s flagship Australian assets include the Western Downs Green Power Hub in Queensland and the 560MW/2240MWh Collie Battery in Western Australia.
The $1.8 billion debt financing package has been backed by the likes of ANZ, Bank of America, Bank of China, Clean Energy Finance Corporation, NAB and ING.