As a renewable energy specialist, Neoen focuses on producing green electricity via renewable sources such as sunlight and wind, both using mature, tried and tested technologies. We have also honed our expertise in energy storage to be able to contend with the intermittent output of renewable energy technologies and contribute to their development. We operate on a vertically integrated basis across the whole life cycle of our power plants, developing and operating them with a long-term outlook.
Onshore wind farms are a mature source of renewable energy at competitive rates. We use wind turbines in addition to solar energy, where conditions are particularly favourable, on the Australian plains or in some regions of France. Our wind power activity is concentrated on these two countries and we have several projects in development in both.
The sun is the most widely available source of energy on earth and the quickest to be deployed. Solar power has been the focus of technological innovation and has seen spectacular productivity gains. It was Neoen’s first sector and remains our main business line. We are convinced that solar power has the potential for even greater worldwide expansion.
Energy storage is the answer to the volatile nature of renewable energy sources. Costs have been reduced by a third in the last four years and storage can now be used on an industrial scale, which opens up new horizons for solar and wind energy, namely smoothing output, services for networks and including non-interconnected markets. Neoen has developed and operates the largest battery storage system in the world in Australia (Hornsdale Power Reserve), in partnership with Tesla. Neoen also supports research projects in hydrogen.
The technical, economic, societal and environmental feasibility of each project is determined during the development stage via surveys of potential, soil and environmental impact, including on biodiversity and the local community. The design enables the project to be set up to optimise production according to the site and the available resources. A designated project manager liaises with the parties concerned, including residents, communities, local politicians and authorities.
We finance our projects through a combination of our own capital and long-term loans based on the project itself (non-recourse financing). Neoen is a responsible shareholder. We control our assets and employ a sturdy growth strategy in line with our long-term outlook. Wherever possible we finance our projects locally.
As a responsible construction project manager, we are directly involved in the construction work for the power plants we operate. We ensure that each plant is a sustainable asset, with a life span of several decades. As far as possible, we use the services of local industry.
As an energy producer, we keep a close eye on the day-to-day running of our power plants around the world. Supervision and maintenance are undertaken by a special Neoen taskforce. In some markets we also sell electricity.