KfW IPEX-Bank is playing a significant role in the expansion of Neoen's renewable energy portfolio in Australia. The French energy company, Neoen, initiated a financing project at the end of last year to support various wind, solar, and battery storage projects across different regions in Australia. This portfolio is now being expanded with additional funding.
A consortium of 11 international commercial banks is providing this new financing, which totals approximately AUD 1.4 billion. KfW IPEX-Bank's contribution amounts to around AUD 107 million, equivalent to about EUR 65 million. This financial package offers Neoen increased flexibility for future platform expansions.
KfW IPEX-Bank has been involved in both tranches of the portfolio financing, which now exceeds AUD 2 billion in total. The diversified capacity stands at 2.9 GW spread over 15 projects.
Dr Velibor Marjanovic, Member of the Management Board of KfW IPEX-Bank, stated: "We are proud to be involved in this pioneering flagship project for the growing renewable energy market in Australia and to be able to support our valued long-standing client Neoen in setting up its central platform for renewable energy financing in Australia." He added that their contribution underscores their commitment to advancing global energy transition efforts.