Goyder South Stage 1 wind farm : Neoen announces financial close

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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.

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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

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.”

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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.”

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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.

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