- Neoen and Flow Power, an innovative electricity retailer, have signed a 10-year power purchase agreement (PPA) for 40 MW of energy from Goyder South Stage 1
- Goyder South Stage 1 wind farm, 100% owned by Neoen, will have a total capacity of 412 MW
- It is currently under construction in South Australia, with operations expected to commence in 2024
- This PPA is the second offtake agreement secured for the project, complementing the existing 100 MW contract with the Australian Capital Territory (ACT) Government
Neoen (ISIN: FR0011675362, Ticker: NEOEN), one of the world's leading producers of exclusively renewable energy, has signed a power purchase agreement with Flow Power, one of Australia's fastest growing and most innovative electricity retailers, for 40 MW of energy from its Goyder South Stage 1 wind farm in South Australia.
Goyder South Stage 1 is the first stage of Neoen's flagship project known as Goyder Renewables Zone, a hybrid wind, solar and storage project located near Burra in the state's Mid North region. Goyder South has development approval for a total of 1200 MW of wind generation, 600 MW of solar generation and 900 MW of battery storage capacity, making it the State's largest renewable project. Construction of Stage 1, comprising 75 wind turbines with a total capacity of 412 MW, is currently underway with operations expected to commence in 2024.
Under the 10-year agreement, Flow Power will purchase close to 10% of the generation capacity of the Goyder South Stage 1 wind farm. This PPA will enable Flow Power to provide South Australian commercial and industrial electricity users with access to affordable local clean energy.
This is the second offtake agreement secured for Goyder South Stage 1, complementing the 14-year contract for 100 MW with the Australian Capital Territory (ACT) Government which was announced in September 2020.
Goyder Renewables Zone leverages the exceptional wind and solar renewable resources of the area and will deliver a significant economic boost to the region. Goyder South Stage 1 is creating over 400 construction jobs and 12 full time permanent positions, and will share substantial ongoing economic benefits with the local community and Traditional Owners, the Ngadjuri.
Louis de Sambucy, Neoen Australia's Managing Director said:"We are delighted to sign our first PPA with Flow Power, who deliver competitively priced renewable energy and emissions reductions to a wide range of Australian businesses. Goyder South is not only an extremely competitive project: it also unlocks exceptional regional economic and local community outcomes."
Matthew van der Linden, Flow Power CEO commented:"Flow Power is proud to be supporting Neoen's Goyder South Stage 1 project with our long-term PPA commitment. This PPA represents a significant contribution to Flow Power's renewable energy portfolio and will enable us to continue providing Australian energy users access to leading clean energy projects. We would like to congratulate the Neoen team for their excellence throughout the PPA process as well as for the significant community benefits they are delivering as part of the project."
Xavier Barbaro, Neoen's Chairman and Chief Executive Officer concluded:"We would like to thank Flow Power for placing their trust in us. The signing of this second power purchase agreement for Goyder South demonstrates our ability to secure multiple offtake agreements within one large-scale asset. It underlines once again the competitiveness of our energy, in South Australia and in Australia as a whole. More than ever, Neoen is committed to delivering affordable, reliable clean energy to its clients in Australia and around the globe."