Neoen, a leading renewable energy company, has finalized joint financing for the second phase of its Goyder South Stage 1 wind farm expansion and the Blyth Battery project in Australia, marking a significant milestone in the nation's renewable energy landscape.
The completion of financing encompasses Neoen's 203-megawatt (MW) Goyder South Stage 1 expansion and its 238.5MW/477MWh Blyth Battery, both of which are fully owned by Neoen. Debt financing for these projects has been provided by a consortium of five lenders.
These developments are underpinned by a 70MW renewable energy baseload contract with mining giant BHP, aimed at powering its Olympic Dam mine in South Australia.
Construction is currently underway for both the second tranche of Goyder South Stage 1 and Blyth Battery, with operations slated to commence by mid-2025.
The financing for these projects has been facilitated through a combination of Neoen's equity and debt facilities from lenders, including the Clean Energy Finance Corporation, KfW IPEX-Bank, ING, Mizuho, and Westpac.
Situated 150 kilometers apart in the Mid-North region of South Australia, both Goyder South Stage 1 and Blyth Battery are poised to inject a significant economic stimulus into the local and regional economies.
The construction phase is currently providing employment opportunities, with over 400 construction workers engaged at Goyder South and a team of 40 at Blyth Battery. Once operational, these projects are expected to create 15 permanent positions.
Louis de Sambucy, Neoen Australia's CEO, expressed gratitude to the lender group for their trust and commitment, stating, “We are delighted to announce the joint financing of the second portion of Goyder South alongside Blyth Battery, and we sincerely thank the lender group for their trust and commitment. We are looking forward to powering BHP's Olympic Dam mine with baseload renewable energy.”