(Boursier.com) — Neoen rose 1.4% to 34.90 euros on Monday, as the group officially launched Goyder Renewables Zone, its major project in South Australia, by entrusting, at the end of December 2021, the construction of a 412 MW wind farm to a consortium made up of GE Renewable Energy and Elecnor.
This park, Goyder South Stage 1, will consist of 75 GE 5.5-158 Cypress turbines, a model of wind turbine that has already been widely deployed in Australia and around the world. It will be connected to ElectraNet’s Robertstown substation via a new transmission line. Construction is currently at the groundbreaking stage and is expected to accelerate in the second quarter of 2022, after obtaining the usual additional permits. Goyder South Stage 1 is expected to be commissioned in 2024.
Neoen intends to contractualize a large part of the electricity produced by this park. A first contract covering 100 MW has already been signed with the government of the Australian Capital Territory (ACT) for a period of 14 years. The ACT, already globally recognized as a region supplied with 100% renewable electricity, aims to achieve zero emissions by 2045. This is the fourth contract won by Neoen in the context of calls for renewable energy offers launched by the ACT, which reinforces Neoen’s leading position among independent renewable energy producers in Australia. As part of this call for tenders, Neoen had also made a commitment to build a large capacity battery in the Australian Capital Territory (outside the Goyder Renewables Zone). The construction of this Capital Battery, with a capacity of 100 MW, started in December.
Goyder South Stage 1 is the first part of the Goyder Renewables Zone, an iconic multi-gigawatt project combining wind, solar and storage, located near Burra, South Australia. Neoen has obtained permission to build 1,200 MW of wind, 600 MW of solar and 900 MW of storage capacity there for a project called Goyder South, the largest renewable energy production project in this state. Subsequent phases of the project may materialize with the future commissioning of the 800 MW interconnector, Project EnergyConnect, which will connect South Australia to New South Wales, and which will allow South Australia to achieve its ambition of becoming a major exporter of green energy.
The Goyder Renewables Zone benefits from exceptional wind and solar resources and will generate strong local economic benefits. Thus, Goyder South Stage 1 will create more than 400 jobs during construction and twelve permanent positions. Furthermore, as long-term owner and operator, Neoen has undertaken to ensure that the region benefits from the spin-offs of the project. Thus, Neoen will set up a community fund (Community Benefit Fund) to finance local initiatives and sustainable development projects. Neoen also plans to deploy a program of support measures for local residents and for the Ngadjuri community, traditional owners of the land hosting the wind farm. This is complemented by an ambitious ecotourism initiative that will ensure the preservation of the exceptional site of Worlds End Gorge, for generations to come.
“This project strengthens Neoen’s position in Australia, the group’s leading country (2.5GW in operation or under construction out of Neoen’s 5.4 GW)” commented Portzamparc, who underlined that “Neoen has the authorization to build, in the framework of the Goyder Renewables Zone project, 1200 MW of wind, 600 MW of solar and 900 MW of storage capacity”. The analyst remains on an opinion to “lighten” the file.