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(AOF) – Neoen has announced the signing of a Power Purchase Agreement (PPA) covering 215 MW with Stanwell Corporation, an Australian electricity supplier. This contract covers a period of 15 years representing 65% of the production capacity of the Mount Hopeful wind farm. Located in the region south-west of Rockhampton, in the center of the Australian state of Queensland, this future park will have a total capacity of 330 MW and will be 100% owned by the French renewable energy producer.
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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 operations: operating in countries with network parity, with contracts for the sale of long-term PPA electricity,
– 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;
– Balance sheet still tight with debt leverage, increased by new projects, standing at 7.5 but cash of €559 million.
Challenges
– 2021-2025 roadmap with objectives set twice in 2022: capacity in operation or construction of + 10 GW including 5 GW in 2023, annual investments of around €5.3 billion, hence regular fundraising funds, increase in operating income 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 reducing the carbon footprint, Projects pillar for managing environmental issues and recycling 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, in Providence in El Salvador and in Illikkâlâ in Finland;
– Rise in capacity in operation to 3,584 MW at the end of June, in solar and wind power in France.
Challenges
– Activity driven by regulations favorable to renewable energies;
– Capital gains expected from “farm-out” or partial or even total disposals of secured assets;
– Execution of solar projects, of 92.5 MW won in France and 80 MW in Ireland, and wind construction in Sweden and Finland;
– After a 36% increase in turnover and a 69% decline in net profit in the 1
er
semester, 2022 target increased by an operating profit of between 380 and 460 million, i.e. a margin of 80 to 90%.
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