Goyder South Stage 1 wind farm : Neoen announces financial close

Neoen, a French renewable energy producer, has moved ahead with the first tranche of 209MW of its Goyder South Stage 1 wind farm in Australia, following the completion of the financial close last month.

Situated near Burra in the Mid North region of South Australia, the Goyder South Stage 1 wind farm will have a total capacity of 412MW coming from 75 wind turbines.

The first tranche of 209MW is being funded through equity by Neoen and debt facilities by a group of six lenders.

The lenders group includes ANZ, HSBC, Societe Generale, Mizuho, Westpac, and Sumitomo Mitsui Banking Corporation.

Neoen has entered into a 14-year power sale agreement with the Australian Capital Territory (ACT) Government for 100 W and a 10-year contract with Australian electricity retailer Flow Power for 40MW of green energy.

Neoen announces financial close for Goyder South Stage 1 wind farm. Photo courtesy of Ed White from Pixaba

Louis de Sambucy — Neoen Australia Managing Director said: “We are on track to deliver Stage 1 in 2024 and look forward to the contribution it will make to South Australia’s ambition to become a major renewable energy exporter and to the ACT’s goal of reaching net zero by 2045.”

Currently, under construction, the Goyder South Stage 1 wind farm is expected to commence operations in 2024.

Xavier Barbaro — Neoen Chairman and CEO said: “This financing once again underlines the quality of Neoen’s projects and our ability to work with a group of top tier banks.

“We are proud to be providing our customers in Australia and around the world with local and extremely competitive clean energy.”

The French renewable energy producer anticipates to close the financing for the remaining 203MW of the Goyder South Stage 1 wind farm this year and power the Olympic Dam mine operations from July 2025, following a 70MW renewable energy baseload contract with BHP.

Goyder South Stage 1 is the first phase of Neoen’s Goyder Renewables Zone, a hybrid wind, solar, and storage project.