NEOEN SA (EPA:NEOEN) - Neoen signs 126 MW wind PPA in Finland with Heineken, Philips, Signify and Nouryon

Transparency directive : regulatory news

11/12/2020 08:01

MEDIA RELEASE

Paris, December 11, 2020

Neoen signs 126 MW wind PPA in Finland with Heineken, Philips, Signify and
Nouryon

* Neoen has signed a 10-year agreement with the consortium formed by Heineken,
  Philips, Signify and Nouryon to supply electricity (126 MW)
* The electricity will be produced by the future wind farm in Mutkalampi,
  Finland, which has already allocated supply to Google in a 125 MW(1) contract
  signed in September 2019
* The park's total capacity will exceed initial plans of 250 MW to attain 404
  MW, making it one of the largest in Finland
* This new development, Hedet wind farm (81 MW) and Yllikkälä Power Reserve
  (30 MW / 30 MWh) combined takes Neoen's installed capacity in Finland to over
  500 MW

Neoen (ISIN: FR0011675362, ticker: NEOEN), one of the world's leading and
fastest-growing producers of exclusively renewable energy, announces the
signature of a new power purchase agreement with the consortium formed by
Heineken, Philips, Signify and Nouryon.

This 10-year contract covers a capacity of 126 MW. The electricity and the
guarantees of origin are to be produced by the future Mutkalampi wind farm in
Finland, codeveloped with Prokon and owned by Neoen.

The park spans the regions of Central and Northern Ostrobothnia in western
Finland. The total capacity of the park initially announced at 250 MW will be
increased to 404 MW, making it one of the largest in Finland. The PPA with
Heineken, Philips, Signify and Nouryon is scheduled to commence in the third
quarter of 2023. With this new wind farm, Neoen's installed capacity in Finland
will exceed 500 MW.

With Google already a customer, the production of Mutkalampi wind farm will be
sold to five international companies - a promising foray into the burgeoning
European corporate PPA market.

Xavier Barbaro, Neoen's Chairman and Chief Executive Officer said: "Having
already signed two power purchase agreements with Google in Finland, we are
delighted to demonstrate once again the competitiveness of our wind energy
offer in this country. This new agreement with a consortium of four major Dutch
groups allows us to expand our industrial customer base while demonstrating our
ability to conclude pan-European contracts, We are convinced that Finland has
significant growth potential in renewable energy and we will be actively
pursuing our development, both to help reach the country's target of zero net
carbon emissions by 2035 and for the benefit of all our European customers."

(1) Instead of 130 MW initially planned

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 3.6 GW in
operation or under construction, Neoen is a high-growth company. Neoen is
notably active in Finland, Argentina, Australia, El Salvador, France, Ireland,
Jamaica, Mexico, Mozambique, Portugal, and Zambia. In particular, Neoen
operates France's most powerful solar farm (300 MWp) in Cestas, and the world's
first big battery (150 MW 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

PR

OPRG Financial

Isabelle Laurent
+33 (0)1 53 32 61 51
Isabelle.laurent@oprgfinancial.fr

Fabrice Baron
+33 (0)1 53 32 61 27
Fabrice.baron@oprgfinancial.fr

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NEOEN SA (EPA:NEOEN) - Neoen signs 126 MW wind PPA in Finland with Heineken, Philips, Signify and Nouryon

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