Neoen becomes the first company to pass 3 GW of renewable energy capacity in Australia

Neoen (ISIN: FR0011675362, Ticker: NEOEN), one of the world’s leading producers of exclusively renewable energy, has reached 3.3 GW of capacity in operation or under construction in Australia confirming its position as the country’s leading renewable energy company. To date, Neoen has invested more than AUD 4 billion and accounts for approximately 10% of Australia’s utility-scale solar capacity, 10% of Australia’s wind capacity and 45% of Australia’s grid scale battery storage.

Neoen is a long-term player in Australia 

The company’s portfolio of 20 assets in operation or under construction consists of 2 GW of generation capacity evenly split between solar and wind and 1.3 GW / 2.8 GWh of battery storage. As it has grown, Neoen has increasingly been able to derive value from the synergies and opportunities that comes from developing and operating multiple facilities. Its homegrown expertise across solar, wind and storage has unlocked efficiencies and enabled it to deliver projects of greater scale and complexity. Being a long-term owner and operator of its assets is a central feature of Neoen’s approach, allowing the company to invest in internal capabilities across the project lifecycle, including its state-of-the-art Operational Control Centre in Canberra which monitors the portfolio and manages its market trading 24/7.

Neoen innovates to accelerate the energy transition 

As well as delivering projects Neoen has been at the forefront of developing solutions to accelerate the energy transition. In 2017, the company famously built the world’s first big battery in under 100 days. Now expanded to 150 MW / 193.5 MWh, the Hornsdale Power Reserve (HPR) in South Australia demonstrated how effective battery storage could be in stabilising the grid and bringing down energy prices. In 2022, HPR went on to become the first battery in the world to deliver inertia services at scale to the grid. HPR was followed by the 300 MW / 450 MWh Victorian Big Battery, which started operating in 2021 and is currently Australia’s largest battery. Neoen has also pioneered solutions for customers by leveraging its deep expertise and multi-technology portfolio, including the world’s first virtual battery contract with AGL and its first renewable energy baseload agreement with BHP to power its Olympic Dam mine in South Australia.

Neoen’s success is founded on partnerships 

Achieving 3 GW of capacity has involved thousands of individuals and groups across 5 different states of Australia including 77 host landowning families, 13 Traditional Owner groups and 15 regional communities. It has delivered more than 2,500 construction jobs and 135 permanent jobs. The success is underpinned by the support and involvement of communities, alongside government, network operators, suppliers, customers and financial partners. Neoen also prides itself on maintaining a robust social licence and sharing benefits with communities on each and every project. 

Neoen has ambitious targets for 2030 

Neoen Australia has grown from a small team in Sydney to 100 team members working across 7 offices, with a footprint in every state. With an extensive development pipeline, Neoen is targeting around 10 GW in operation or under construction by 2030 with a multi-billion dollar investment plan. Its ambition is to have highly competitive assets in each of its three technologies (solar, wind and storage) in every state, and to leverage this multi-technology portfolio to design the solutions of the future for the grid and for energy customers.

Louis de Sambucy, Neoen Australia’s CEO, said: “Adding more than 3 GW of capacity over the past decade is a major achievement for Neoen and for Australia’s renewable energy transition, which we are proud to be a part of. It is thanks to the dedication and audacity of the Neoen team that we have often been able to lead the way. Hand in hand with local communities, our business partners, and the federal and state governments, we are strongly committed to continuing to play a decisive role in Australia’s clean energy future.”

Xavier Barbaro, Neoen’s Chairman and CEO, concluded: “I would like to congratulate the Neoen Australia team on achieving this impressive milestone. Neoen is a key player in Australia and Australia is Neoen’s number one country. It is a model and an inspiration for us internationally, and it is a source of much of our innovation. More than ever, we are proud to be taking our place among the world’s leading energy companies, and to be making a profound contribution to accelerating the pace of the energy transition in Australia and around the globe.”