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BRIEF-Neoen Completes Financing For Western Downs Green Power Hub

Published 26/10/2020, 06:34 pm
© Reuters.
NEOEN
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Oct 26 (Reuters) - Neoen SA NEOEN.PA :

* COMPLETES FINANCING FOR WESTERN DOWNS GREEN POWER HUB, AUSTRALIA'S LARGEST SOLAR FARM

* DEBT WILL BE PROVIDED BY A SYNDICATE OF SEVEN LENDERS, WITH NEOEN RETAINING 100% EQUITY STAKE

* PROJECT IS SUPPORTED BY LANDMARK 352 MWP POWER PURCHASE AGREEMENT WITH CLEANCO, QUEENSLAND'S PUBLICLY OWNED RENEWABLE ENERGY COMPANY

* PROJECT WILL CONTRIBUTE OVER 30% OF ENERGY REQUIRED FOR CLEANCO TO MEET TARGET OF 1 GW OF NEW RENEWABLE ENERGY GENERATION BY 2025

* TOTAL PROJECT COSTS WILL AMOUNT TO APPROXIMATELY A$600 MILLION

* CONSTRUCTION IS EXPECTED TO TAKE OVER A YEAR, WITH ENERGY GENERATION SCHEDULED TO COMMENCE IN 2022

* INVESTMENT IS EXPECTED TO CREATE OVER 400 CONSTRUCTION JOBS IN LOCAL AREA AND SOUTH WEST QUEENSLAND REGION

* SOLAR FARM WILL GENERATE ENERGY TO POWER 235,000 QUEENSLAND HOMES, OR ENOUGH TO POWER EVERY HOME ON THE SUNSHINE COAST

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