(AOF) – Neoen has launched the construction of its first asset in Sweden, the Storbrännkullen wind farm. It will be equipped with ten Nordex N163 turbines with a unit power of between 5.5 and 5.9 MW, giving a total capacity of 57.4 MW. Stenger & Ibsen Construction (SIC) will be in charge of the civil engineering and electrification works. This park will be connected to the 130 kV transmission line of the E.ON network. Its commissioning is scheduled for the end of 2023.
Neoen intends to contractualize a large part of the electricity that will be generated. The expected production corresponds to the annual consumption of 30,000 households, heating included.
True to its “develop-to-own” model, Neoen will be the long-term owner and operator of this wind farm. Neoen is committed to ensuring that this investment benefits local communities whose support has been decisive. Thus, the creation of a community fund will make it possible to finance each year local initiatives contributing positively to the development of the region.
With this first park under construction, Neoen affirms its ambition to become a benchmark player in Sweden and to actively participate in achieving the national objective of 100% renewable energy by 2040. Present in Sweden since 2020, Neoen has a team of around ten people who are developing a portfolio of several hundred MW of wind and solar power, as well as storage projects.
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Key points
– First French independent producer of exclusively renewable energies founded in 2008;
– Turnover of €333.4 million, generated in 15 countries, including 50% in Australia, and 49% from solar, 41% from wind and 10% from storage;
– Portfolio of 13.9 GW, including 5.4 GW of assets in operation or construction;
– “Development to own” business model: integrated with a presence in the 4 phases of the life of the assets – development, financing, project management and operation: operating in countries with network parity, with contracts for the sale of long-term PPA electricity / limiting to 20% the share of revenues exposed to market prices;
– Capital held at 46.51% by Impala (holding of the Veyrat family) and 1.61% by Cartusia (holding of the Barbaro family), acting in concert, ahead of the FSP (6.5%) and the BPI (4 .7%), Xavier Barbaro being Chairman and Chief Executive Officer of the 8-member Board of Directors.
Challenges
– 2021-2025 roadmap: capacity in operation or construction of + 10 GW and project gain of 2 GW per year, annual investments of around €5.3 billion, hence regular fundraising, increase operating profit of +20% in 2022 then double digits;
– Innovation strategy: carried out in partnership with customers during pilot projects, innovative in essence, identifying cost reduction and energy storage technologies;
– “Sustainable Framework” environmental strategy: Corporate pillar for the reduction of the carbon footprint / Projects pillar for the management of environmental issues and the recycling of facilities / launch of green loans;
– Strong position in the storage of lithium-ion batteries, developed in partnership with Tesla in the Australian unit of Hornsdale.
Challenges
– Activity driven by regulations favorable to renewable energies;
– Capital gains expected from “farm-out” or partial or even total disposals of secured assets;
– 2022 objective of an operating profit of between €360 and 375 million, fed less than 20% by a “farm-out” operation, i.e. a margin of 85 to 90%.