Neoen projects provide battery boost for grid
Portfolio financing supports new clean energy assets
The CEFC is spearheading Australia’s push to net zero emissions by backing a portfolio of Neoen assets that includes new battery storage and solar.
$100 million
CEFC commitment
New
solar and battery storage
Boosting
clean energy capacity
Long and short duration storage assets are critical to building an energy network fit for purpose in the 21st century, enabling Australia to capitalise on its abundant natural resources of wind and solar to decarbonise the grid. Our work with Neoen adds critical additional clean energy generation to its portfolio to further accelerate the clean energy transition.Ian LearmonthCEO, CEFC
Our investment
The CEFC has committed $100 million as part of a $1.4 billion capital raise, to support a portfolio of Neoen renewable energy and battery storage assets.
The finance covered developing new renewable energy generation and battery storage.
The Neoen portfolio financing includes backing from international banks KfW, SMBC, Society Generale, HSBC, MUFG, Mizuho, ING, Bank of China, as well as ANZ and Westpac.
Separately, the CEFC committed $55 million in February 2024 to a Neoen portfolio financing that covered 1.5 GW of assets including the Collie Battery Stage 1.
OUR IMPACT
Renewables help cut emissions at least cost
The Climate Change Authority (CCA) says Australia needs coordinated efforts across government, industries and communities to achieve its commitment of reducing emissions by 62 to 70 per cent below 2025 levels by 2035.
In its 2025 Annual Progress Report, CCA says while renewables are generating more of Australia’s electricity than ever before, they need to be deployed faster with the share of on-grid renewable electricity needing to roughly double over five years to achieve the 82 per cent renewable energy target underpinning Australia’s emissions reduction goals. 1
Capitalising on natural resources
The CEFC commitment to the Neoen platform in December 2024 has supported the development of:
– The 341 MW / 1,363 MWh Collie Battery Stage 2, which began operating in July 2025, and provides critical support for the WA energy grid, the South West Interconnected System (SWIS). The Collie Battery Stages 1 and 2 have the ability to charge and discharge some 20 per cent of the average demand in the SWIS.
– The 270 MW / 540 MWh Western Downs Battery Stage 1, which began operating as part of the Western Downs Green Power Hub in June 2025 and supports the integration of more renewable energy into the National Electricity Market (NEM).
– The 350 MW/ 440 MWp Culcairn Solar Farm in NSW, which began operating in May 2026 and is expected to generate enough energy to power 160,000 homes.
This transaction underlines the unique depth of our portfolio in Australia. It serves to strengthen our owner operator business model and provides us with a solid foundation for future growth.Jean-Christophe CheylusCEO, Neoen Australia
1. Climate Change Authority, 2025 Annual Progress Report
