NEOEN SA (EPA:NEOEN) - Neoen completes financing for 157 MW Kaban Green Power Hub in Australia

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20/09/2021 07:47

MEDIA RELEASE

Sydney & Paris, 20 September 2021

Neoen completes financing for 157 MW Kaban Green Power Hub in Australia

* Neoen has reached financial close on its A$370 million Kaban Green Power Hub
project in Far North Queensland, Australia
* The project consists of a 157 MW wind farm and a 320 km transmission line
upgrade and is the cornerstone of the new Northern Queensland Renewable Energy
Zone
* The wind farm will be entirely owned by Neoen, with debt financing provided
by a syndicate of five lenders
* The project is supported by a 15 year capacity purchase agreement with
CleanCo Queensland for 100% of the energy generated
* Works commenced in May with the project set to deliver over 250 construction
jobs and to generate 457 GWh of affordable clean energy each year from 2023

Neoen (ISIN: FR0011675362, Ticker: NEOEN), one of the world's leading and
fastest-growing producers of exclusively renewable energy, has completed
financial close on the Kaban Green Power Hub, a project designed to generate
clean, affordable energy and strengthen the electricity network in Far North
Queensland. The project consists of a 157 MW wind farm located near the town of
Ravenshoe in the Atherton Tablelands and a 320 km transmission line upgrade of
the North Queensland coastal circuit.

Total project costs will amount to approximately A$370million, with debt
provided by a syndicate of five lenders, BNP Paribas, HSBC, MUFG, NAB and
NORD/LB.

The wind farm consists of 28 Vestas V162 turbines which at 5.6 MW capacity will
be amongst the largest in the country. EPC contractor Vestas was provided with
notice to proceed in May, the site was mobilized in early June and civil works
are now underway. Construction is expected to take 21 months with full energy
generation scheduled for 2023.

The Queensland Government has committed funding towards the transmission
network upgrade which will support the wind farm and establish the Northern
Queensland Renewable Energy Zone (REZ). Neoen and Powerlink Queensland are
partnering to upgrade the line between Cairns and Townsville which will
substantially improve the network's capability, unlocking up to 500 MW of
additional capacity for future projects.

The project is underpinned by a 15 year capacity purchase agreement (CPA) with
CleanCo, Queensland's publicly owned clean energy company, for 100% of the
energy generated. It will deliver competitively priced electricity,
contributing to the Queensland Government's target of 50% renewable energy by
2030.

The investment is expected to create over 250 construction jobs in the region
of Far North Queensland, with 50 workers already active on site. Once
completed, thanks to the region's excellent wind resource the asset will
generate 457 GWh of affordable clean energy each year, enough to power some
100,000 Queensland homes, more than enough for every home in Cairns.

Louis de Sambucy, Neoen Australia's Managing Director said: "We are delighted
to announce that our Kaban project has reached this important financial
milestone. I would like to thank CleanCo Queensland and our lenders for their
trust in our ability to deliver high-quality projects. We are proud of the
pivotal role the project is playing in establishing the Northern Queensland REZ
and look forward to Kaban contributing to Queensland's energy transition and to
supporting the region's recovery from Covid-19."

Dr Maia Schweizer, CleanCo Queensland's CEO added: "The Kaban Green Power Hub
project provides critical system strength support for North Queensland. As an
important part of CleanCo's low emission generating portfolio, the renewable
energy generated by this wind farm will allow us to offer affordable contracts
to big energy users, translating to continued lower energy prices and increased
competitiveness for Queensland businesses and communities."

Paul Simshauser, Powerlink's Chief Executive said: "The Kaban Green Power Hub
is pivotal to unlocking Queensland's first Renewable Energy Zone. It forms part
of A$700million worth of work Powerlink is delivering in North Queensland over
the next five years."

Xavier Barbaro, Neoen's Chairman and Chief Executive Of?cer concluded: "We
would like to thank and congratulate the team for their hard work reaching
financial close on our second Queensland project. The strong interest of our
lenders demonstrates again how our integrated and long-term ownership business
model provides confidence to the market. With over 2 GW of assets in operation
and under construction and an extensive development pipeline, Australia is
Neoen's leading market and will be a key contributor to our global target of 10
GW by the end of 2025."

About Neoen

Neoen is one of the world's leading and fastest growing independent producers
of exclusively renewable energy. Neoen has close to 4.8 GW of solar, wind and
storage capacity in operation or under construction in Australia, France,
Finland, Mexico, El Salvador, Argentina, Ireland, Jamaica, Mozambique,
Portugal, and Zambia. The company is also present in Croatia, Ecuador, Sweden,
and the USA. Neoen's flagship assets include France's most powerful solar farm
in Cestas (300 MWp), and the world's first big battery in Hornsdale, Australia
(150 MW / 193.5 MWh storage capacity). Neoen is targeting more than 10 GW
capacity in operation or under construction by the end of 2025. Neoen (ISIN
Code: FR0011675362, ticker: NEOEN) is listed in Compartment A of the regulated
market of Euronext Paris.

For more information: www.neoen.com

Contact

Neoen
communication@neoen.com

Australian media

Red Havas
neoen@redhavas.com

International media

OPRG Financial
Isabelle Laurent
+33 1 53 32 61 51
Isabelle.laurent@oprgfinancial.fr

Fabrice Baron
+33 1 53 32 61 27
Fabrice.baron@oprgfinancial.fr

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