Neoen secures $1.8bn financing for Australian renewables

Neoen has secured $1.8 billion in debt financing to support a 1.2-gigawatt (GW) portfolio of renewable energy and storage assets across Australia, including projects under construction in three states.

The financing package, provided by 13 Australian and international lenders, covers five assets spanning wind, solar and battery storage in New South Wales, South Australia and Western Australia.

The portfolio includes the operating Hornsdale Power Reserve in South Australia, Goyder South Wind Farm Stage 1A, Culcairn Solar Farm and batter in NSW, and the Narrogin Wind Farm in WA.

The Clean Energy Finance Corporation (CEFC) has committed up to $100 million to the transaction, supporting a diversified mix of existing infrastructure and new developments.

CEFC chief executive Paul McCartney said the portfolio structure allows the corporation to support a broader range of renewable energy projects.

"The CEFC investment in this portfolio financing supports a range of assets providing diversification benefits, which means we can back more renewable energy across Australia. It's critical to see more renewable energy and storage come into the system, and we are pleased to see that this finance supports the build out of new wind resources like the Narrogin Wind Farm in WA," McCartney said.

Neoen Australia Pacific regional chief executive Jean-Christophe Cheylus said the transaction reflected the depth of the company's Australian portfolio and support from its financing partners.

"This landmark transaction underlines the strength, depth and growth of our portfolio in Australia," Cheylus said.

The financing marks Neoen's largest portfolio debt transaction to date. Since 2024, the company has raised more than $5 billion in debt financing across 20 Australian assets, representing 4.7GW of capacity.

Neoen, which says it has contributed more than 6GW of wind, solar and storage capacity to Australia's energy transition, is targeting 10GW of capacity nationally by 2030.

Group executive Xavier Barbaro said the financing would strengthen the company's balance sheet and support further investment in new projects.