Neoen, a European renewable energy group, has secured $1.4 billion in debt funding to finance its Australian renewable energy portfolio. The funding will support the development of an additional 1.3 gigawatts (GW) of wind, solar, and storage assets. The debt is being provided by 11 major lenders, including Australian and international banks, as well as the Clean Energy Finance Corporation, a federal government agency. The financing will enable Neoen to expand its operating assets in Australia, including the development of three new solar farms in New South Wales and a wind farm in Queensland. The funds will also be used to finance three new projects, including a 270 MW battery project in Queensland, a 440 MW solar farm in NSW, and a 341 MW battery project in Western Australia. The debt has a maturity period of 5.5 years to seven years.
