Neoen lands off-take deal for 100-MW portion of Aussie renewables hub

Neoen SA (EPA:NEOEN) has won an off-take contract for the first 100 MW of wind capacity coming from a huge renewable energy hub in South Australia.

The French renewable power producer has been awarded the contract with the government of the Australian Capital Territory (ACT) after winning a competitive auction, it was announced on Tuesday. Under the deal, Neoen will supply electricity from Stage 1 of the Goyder wind farm, the construction of which will be initiated in 2022 as part of the 600-MW wind component of the ambitious project.

Additionally, Neoen has committed to build a battery storage facility of at least 50 MW to support and stabilise ACT’s electricity grid. The battery will be open to community co-investment, allowing residents of the ACT to become financial stakeholders in the project.

Neoen’s plan for the Goyder Renewables Zone envisages the phased installation of up to 1,200 MW of wind, 600 MW of solar and 900 MW/1,800 MWh of energy storage capacity, which will create a complex capable of producing around 4.8 TWh of electricity per year. The proposed investment is estimated at AUD 3 billion (USD 2.19bn/EUR 1.85bn).

The off-take deal comes to support the ACT’s goal for 100% renewable energy and net-zero emissions by 2045. It also marks Neoen’s fourth ACT government contract since winning the territory’s first wind auction in 2015.

(AUD 1.0 = USD 0.731/EUR 0.618)

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