NEOEN SA (EPA:NEOEN) - Neoen announces the commissioning of Hedet wind farm in Finland, supplying green electricity to Google

Transparency directive : regulatory news

03/07/2020 08:17

MEDIA RELEASE

Paris, July 3, 2020

Neoen announces the commissioning of Hedet wind farm in Finland, supplying
green electricity to Google

* The 81 MW Hedet wind farm will generate renewable, carbon-free and
  competitively priced electricity to cover the power needs of Google's Hamina
  data center in Finland

* Hedet is the first of Neoen's assets in Finland to enter service,
  demonstrating its ambition of becoming a leading player in the country's
  renewable energies segment

* Neoen is currently finalizing the development of Mutkalampi, another wind
  farm in Finland, with a second power purchase agreement with Google covering
  130 MW of the 250 MW facility's total capacity

* The commissioning of the Hedet wind farm follows on from Neoen's recent
  announcement that it is launching construction in Finland of Yllikkälä Power
  Reserve One, 30 MW/30 MWh, the Nordic countries' largest energy storage unit,
  to help improve the grid's stability

Neoen (ISIN: FR0011675362, Ticker: NEOEN), one of the world's leading and
fastest-growing independent producers of exclusively renewable energy, is
announcing the commissioning of its 81 MW Hedet wind farm in Närpes, Finland.
Neoen owns an 80% stake in the facility alongside Prokon Finland, which holds
the remaining 20%.

All the power generated by Hedet will be purchased by Google, under a 10-year
power purchase agreement. The electricity will be injected into the grid that
supplies Google's data center at Hamina in Finland and will thus help to cover
some of its electricity needs with renewable energy.

The Hedet facility is equipped with 18 Nordex N149 turbines, each with 4.5 MW
in unit capacity.

The German and Swedish commercial banks KfW Ipex and SEB provided EUR66.5
million in senior debt to help finance the power plant. The total investment
cost of the project stands at EUR85.4 million excluding borrowing costs.

Christophe Desplats-Redier, Neoen's Regional Director, commented: "Hedet is a
landmark project for Neoen, and the start of its commercial operations
represents a major milestone for our business in Finland. We would like to
express our gratitude to Google, the Närpes municipal authorities, our partner
Prokon, our subcontractors and all the local stakeholders-the population of
Overmark and Finnish operator EPV- which helped us bring this project through
to its fruition."

Xavier Barbaro, Neoen's Chairman and CEO, added: "We are very proud to
commission the Hedet wind farm, our first operating asset in Finland. As a
long-term investor and operator, Neoen is contributing to the achievement of
the country's goal of being carbon-neutral by 2035. We are actively pursuing
the development of other projects in the country with the same high quality
standards and in close cooperation with local communities. "

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

Presse

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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NEOEN SA (EPA:NEOEN) - Neoen announces the commissioning of Hedet wind farm in Finland, supplying green electricity to Google

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