Major Neoen projects drive critical minerals decarbonisation
Wind and battery storage bring green power to critical minerals
South Australia’s biggest wind farm, Goyder South, together with the Blyth battery, is expected to power up to half the energy requirements of BHP Olympic Dam, one of the world’s largest critical minerals mines.
$99 million
CEFC commitment
203 MW
renewable energy
477 MWh
battery storage
The challenge of reducing emissions across the economy starts with the energy sector. The offtake agreement with BHP demonstrates how reducing energy emissions accelerates decarbonisation across the economy.Ian LearmonthCEO, CEFC
Our investment
The CEFC has committed $99 million to the Goyder South Stage 1 Wind Farm and the Blyth Battery in South Australia, which are being developed and operated by independent global renewable energy producer Neoen.
CEFC finance supports the construction of 203 MW of renewable energy generation capacity and 238.5 MW / 477 MWh of battery storage.
The CEFC investment is alongside KfW IPEX-Bank, Westpac, ING and Mizuho, demonstrating the impact of CEFC capital in attracting international finance to the development of Australian clean energy assets.
Worlds End Gorge National Park
Goyder South Stage 1 forms part of the Neoen flagship Goyder Renewables Zone, 150 km north of Adelaide.
As part of the development, Neoen has transferred ownership of 1,000 hectares of land to the South Australian government, paving the way for the creation of a national park on Ngadjuri country at Worlds End Gorge.
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our impact
Copper’s renewables role
Olympic Dam, 560 kilometres north of Adelaide in South Australia, is one of the world’s most significant deposits of copper – a mineral that is critical to the decarbonisation of the energy sector.
BHP, which owns and operates Olympic Dam, estimates that by 2027 the demand for electric vehicles alone will increase demand for copper by 1.7 million tonnes. Copper is also used in the construction of wind turbines, solar panels, battery storage and other technologies playing key emissions reduction roles.
Almost all copper products can be recycled, however, the demand for this renewable metal to meet the needs of renewable energy technologies will require increased supply through mining.
The Mining in a low emissions economy reports by the CEFC and Minerals Research Institute of Western Australia, found that the “demand for low-emissions energy minerals and the decarbonisation of mining is the greatest opportunity to diversify and grow the resources sector in a generation.”
Decarbonising mining with renewables
Under an innovative contract with Olympic Dam, Neoen is expecting to supply renewable energy for as much as half the power requirements for one of the world’s largest critical minerals mines.
Neoen will integrate wind power from Goyder South Stage 1 with the storage capacity of the Blyth Battery to provide firmed energy to the contribute to decarbonisation of the mine. The solution provides firmed green energy at Olympic Dam to enable BHP to progress its net zero goals while producing a critical mineral like copper more sustainably.
Big batteries are big news
The CEFC is a leader in utility-scale battery technology investment, helping to accelerate development to facilitate increased use of renewable energy.
Our investments in market-changing projects across Australia include:
- $160 million CEFC finance to 300 MW Victorian Big Battery, Vic
- $100 million CEFC finance to 850 MW Waratah Super Battery, NSW
- $50 million CEFC finance to 150 MW Hornsdale Power Reserve, SA
- $35 million CEFC finance to 100 MW Capital Battery, ACT
