NEOEN announces the financial closing for Hedet, an 81 MW wind power project in Finland. Completion of financing comes 6 months after the announcement of the signature of a contract under which Google will buy all the electricity produced. KfW Ipex and SEB provided the project’s senior debt. Hedet will be Neoen’s first project to come into operation in Finland, a market where the company plans to accelerate its development.
The size of the programme is scaled to amount to around €100 million. Caisse d’Épargne CEPAC as loan arranger, coordinator and lenders’ agent structured the financing agreement. Bpifrance and the EIB are financial partners. Thanks to the competitive refinancing terms offered by the EIB and a portfolio effect, Neoen was able to take out the loan under very favorable terms.
Corbas, with its 16 MWp in total capacity, is France’s largest photovoltaic shade project. Its solar panels will help protect the new vehicles on the site from bad weather. Neighbors have contributed to financing for the project. They provided €1.2 million within 4 weeks in crowdfunding to the project, making it the largest and most rapid fundraising for a solar project in France under the terms proposed by the CRE (French Energy Regulatory Commission).
The independent leading expert Aurecon estimates that the battery allows annual savings in the wholesale market approaching $40 million by increased competition and removal of 35 MW local FCAS constraint
When completed, Azur Stockage will be the largest power storage unit connected directly to the grid in mainland France. With a 6 MW / 6 MWh power rating, the unit will use its storage capacity to perform frequency regulation services for the grid, helping keep any frequency deviation in check.
Capella Solar is the second project that Neoen will soon operate in El Salvador after Neoen’s teams capitalized on the experience gained in the 101 MWp Providencia Solar project commissioned in 2017. FMO, IDB Invest and Proparco are providing the project’s senior debt.
Coleambally, with its installed capacity of 189 MWp, is now the largest fully operational photovoltaic facility in Australia, producing the greatest solar energy output in the National Electricity Market by any solar generator currently.
This continued success reinforces Neon’s position as number one independent provider of solar power in France.
Neoen, the leading independent producer of exclusively renewable electricity in France and a world leader in the sector has signed a contract to provide American multinational technology company Google with green electricity. Google is to buy all the green electricity produced by the 81 MW Hedet wind farm in Finland, owned by Neoen (80%) and Prokon Finland (20%).
The full construction on the Victorian solar farm commences in July, creating up to 300 jobs for the local economy. With over 1,000 MW in assets in operation and under construction in Australia, Neoen ranks as the country’s number one independent producer of renewable.
Framework agreement between Neoen and WiSEED to crowdfund renewable energy projects in France
Neoen, majority shareholder in Paradise Park, a 51 MWp PV farm based in Jamaica, together with the solar park’s co-shareholders, MPC Caribbean Clean Energy Fund and Rekamniar Frontier Ventures, is today announcing the signing of the project’s financing. Proparco (France’s development bank) and FMO will provide the senior debt for the project, with a total investment amounting to USD 64 million.
Australian Prime Minister Malcolm Turnbull and French President Emmanuel Macron witnessed the signing of landmark agreements between Neoen and GFG Alliance designed to dramatically reduce energy costs to industry in Australia.
The 100% Neoen-owned project reaches financial close for first agribusiness partnership of its kind in the world. Green Power Hub is Neoen’s largest single-stage project in Australia. Full construction works to commence in April, creating up to 120 jobs in Stawell.
Neoen has closed the financing of its Zambian solar park with the International Finance Corporation (IFC) – a member of the World Bank Group – and the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution. Work has commenced on the 52-hectare, 54.3 MWp Bangweulu solar park, Zambia’s first high-power solar plant.
Leading French renewable energy producer Neoen has secured a junior green bond financing for a 1.6 GW global project portfolio. The financing agreement was reached with AMP Capital, an international investment manager headquartered in Sydney, Australia. The portfolio comprises 42 onshore wind and solar projects in Australia, Latin America and France, either in final development stage, under construction or in operation. The mezzanine financing was closed in 3 crosscollateralized currency tranches (EUR, USD and AUD), with an aggregate equivalent commitment amount of EUR 245 M.
On 13th December 2017, in presence of the Minister of Science, Energy & Technology, Dr. the Hon. Andrew Wheatley, the Mayor of Westmoreland Municipal Corporation (His Worship Bertel Moore) and representatives from the regulator (Office of Utility Regulation) and Jamaica Public Service Company Ltd that Eight River Energy Company Ltd officially broke ground on its new 37MW solar farm.
Majority stakeholder of Eight River Energy Corporation, Neoen indicates that, once commissioned, this solar plant will be the largest in Jamaica and one of the largest in the Caribbean.
Neoen presents the artistic masterpiece by Fernando Llort adorning the walls of the Providencia Solar solar farm.
The fresco, designed and painted by the famous Salvadoran artist Fernando Llort at the 101 MW Providencia Solar project, aims to establish a tangible connection between renewable energy and San Salvador.
In a landmark moment for renewable energy, Hornsdale Power Reserve, featuring the world’s largest lithium-ion battery, was launched today by South Australian Premier Jay Weatherill and Romain Desrousseaux.
The world’s largest lithium ion battery will be installed in South Australia under a historic agreement between Neoen, US sustainable energy company Tesla and the South Australian Government.
The energy storage systems from Tesla will be paired with Neoen’s Hornsdale Wind Farm and installed before summer.
In all, 29 renewable energy projects were tendered (25 solar and 4 wind) and Neoen, through its subsidiary Capella Solar, was awarded 2 solar photovoltaic projects of 68MW. Both plants will have 20-year PPAs with local distribution companies Delsur, AES, EDESAL and B&D at US$49.55/MWh and US$49.56/MWh. These tariffs set a new benchmark in Central America.
The French Ministry of the Environment and Energy has selected Neoen to run ten photovoltaic power plants in a call for tenders issued by the French Energy Regulatory commission. The 10 photovoltaic projects will represent 86 MW of installed capacity, some 16% of the overall capacity allocated under CRE 4. Neoen won the most contracts in the previous tender, CRE 3, in December 2015, and has claimed the lion’s share once again, underlining its status as France’s leading independent producer of photovoltaic energy.
Neoen signed on Friday, March 3rd, in Lusaka – Republic of Zambia – a 25 years PPA (Power Purchase Agreement) with ZESCO (the Zambian national utility), for a 54MW photovoltaic power plant.
This project was awarded to the consortium comprised of Neoen and First Solar at the historically low price of $6c/kWh in the framework of the Scaling Solar program, developed by the World Bank Group (IFC) and whose roll-out took place in Zambia following his Excellency the Zambian President Edgar Chagwa Lungu’s initiative in 2015.
The power plant, representing an investment of $60m, will be built and operated in partnership with the Industrial Development Corporation (IDC), the Zambian public investment fund, and will be the first utility scale photovoltaic power plant in the country.