EXECUTIVE SUMMARY
A consortium of 13 Australian and international lenders has provided AUD 1.8 billion in debt financing to Neoen for five renewable energy assets across Australia. The 1.2 GW portfolio includes two battery energy storage projects, two wind farms and one solar farm. The financing brings Neoen's Australian debt funding since 2024 to over AUD 5 billion.
Company: Neoen
Financing Secured: AUD 1.8 billion
Lenders: 13 Australian and international institutions
Portfolio Capacity: 1.2 GW
Assets: 2 BESS, 2 wind farms and 1 solar farm
BESS Capacity: 365 MW / 1,156.5 MWh
Locations: South Australia, New South Wales and Western Australia
French renewable energy company Neoen has secured AUD 1.8 billion in debt financing from 13 Australian and international lenders for a 1.2 GW portfolio of renewable energy assets in Australia. The financing covers five projects, including two battery energy storage systems (BESS), two wind farms and one solar farm across South Australia, New South Wales and Western Australia. The portfolio includes assets that are operational and under construction.
The financing consortium comprises ANZ, Bank of America, Bank of China, Clean Energy Finance Corporation, Export Development Canada, HSBC, ING, KfW IPEX, Mizuho, NAB, UOB, Société Générale and Westpac. The transaction supports Neoen's existing renewable energy portfolio and its financing arrangements in Australia.
The battery storage component comprises Hornsdale Power Reserve in South Australia and Culcairn Battery in New South Wales. Hornsdale Power Reserve has a rated capacity of 150 MW / 193.5 MWh, while Culcairn Battery has a capacity of 215 MW / 963 MWh. Together, the two BESS projects account for 365 MW / 1,156.5 MWh of battery storage capacity within the financed portfolio.
The remaining assets include Goyder South Wind Farm Stage 1A, with 209 MW of capacity in South Australia, and Narrogin Wind Farm, with 179 MW in Western Australia. The portfolio also includes the 440 MWp Culcairn Solar Farm in New South Wales. These projects represent the wind and solar generation components covered under the financing package.
With this transaction, Neoen has raised more than AUD 5 billion in debt financing since 2024. The cumulative financing covers 4.7 GW of combined wind, solar and battery storage capacity across 20 assets in multiple Australian states.
Neoen has contributed more than 6 GW of wind, solar and storage capacity to Australia's renewable energy sector. The company has an extensive development pipeline and a multibillion-dollar forward investment plan, with an ambition to reach 10 GW of capacity in Australia by 2030.
Neoen's Regional CEO Australia Pacific, Jean-Christophe Cheylus, acknowledged the continued support of existing financial partners and the participation of new lenders. Group CEO Xavier Barbaro described the AUD 1.8 billion transaction as Neoen's largest financing to date. He also highlighted its role in strengthening the company's balance sheet and supporting investment in additional projects.
The financing covers a diversified portfolio of operating and under-construction assets, including battery storage projects alongside renewable generation facilities, as Neoen continues developing its Australian business.