NEOEN SA (EPA:NEOEN) - Neoen builds in Finland the Nordics’ largest battery storage unit

Transparency directive : regulatory news

09/06/2020 08:17

Paris, June 9, 2020

Neoen builds in Finland the Nordics' largest battery storage unit

* At 30 MW / 30 MWh, Yllikkälä Power Reserve One will be the first
independent, large-capacity battery to be connected to the Finnish grid
* It will provide the national electricity system with the benefits of rapid
storage to mitigate frequency variations
* This roll-out of lithium-ion stationary batteries in Finland confirms Neoen's
leadership in battery-based grid services
* Following on from the development of the Hedet and Mutkalampi wind farms,
Neoen is delivering on its goal of becoming a leading player in the renewable
energies market in Finland

Neoen (ISIN: FR0011675362, Ticker: NEOEN), one of the world's leading and
fastest-growing independent producers of exclusively renewable energy, is
announcing the construction in Finland of Yllikkälä Power Reserve One, a new
30 MW energy storage plant with a storage capacity of 30 MWh. The facility will
be located close to Lappeenranta in the south-east of the country.

Following on from the Hornsdale Power Reserve in Australia, Azur stockage in
France and Albireo Power Reserve in El Salvador, this first roll-out of
lithium-ion stationary batteries in Finland underpins Neoen's leadership in
battery-based grid services.

The facility is set to play a key role in stabilizing the national electricity
system managed by Fingrid. With Yllikkälä Power Reserve One, Neoen aims to
establish itself as a leading force in frequency regulation in Finland. Aside
from greater reliability and lower electricity grid stabilization costs, the
plant will facilitate the integration of future renewable energies projects.

Yllikkälä Power Reserve One will make it possible to harness Finland's
substantial wind resources and speed up progress towards a target of being
carbon neutral by 2035.

Christophe Desplats-Redier, Neoen's Regional Director, commented: "I would like
to thank all the partners involved in Yllikkälä Power Reserve One's
development, especially Fingrid and the municipality of Lappeenranta, who have
made it possible to kick-start this innovative project. Neoen has been
established in Finland since 2018, with an office in Helsinki. Our first wind
farm, Hedet, has already started to generate electricity. This latest
investment in energy storage illustrates our aim of becoming a leading player
in the renewable energies market in Finland over the long term. Yllikkälä
Power Reserve One is a perfect demonstration of our unique expertise, which
enables us to roll out innovative solutions rapidly around the world."

Xavier Barbaro, Neoen's Chairman and CEO, added: "We strongly believe in the
potential for renewable energies in Finland and continue looking at development
opportunities. We have demonstrated the effectiveness of our battery-based
grid-balancing solutions with the success we have achieved in Australia, El
Salvador, and France over the past few years. This new investment also
demonstrates Neoen's capacity to act as a long-term partner. We are proud to be
making this innovative contribution to the development of energy storage in
Finland, in addition to the development of our wind farms."

About Neoen

Neoen is one of the world's leading and fastest growing independent producers
of exclusively renewable energy. With a capacity of more than 3 GW in operation
or under construction, Neoen is a high-growth company. Neoen is notably active
in France, Finland, Australia, Mexico, El Salvador, Argentina, Portugal,
Ireland, Zambia, Jamaica and Mozambique. In particular, Neoen operates France's
most powerful solar PV farm (300 MWp) in Cestas, and the world's largest
lithium-ion power reserve (150 MW/193.5 MWh storage capacity) in Hornsdale,
Australia. Neoen is targeting at least 5 GW capacity in operation or under
construction by end of 2021. 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

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

NEOEN SA 's latest news

14/05/2024 08:00

NEOEN SA (EPA:NEOEN) - Neoen builds in Finland the Nordics’ largest battery storage unit

Transparency directive : regulatory news

NEOEN SA 's latest news

Other stories