• Additional funding for wind, solar and battery projects
• Neoen more than doubles its renewable energy portfolio financing

KfW IPEX-Bank is contributing to another major energy transition project in Australia. At the end of last year, the French energy group Neoen launched a portfolio financing of several wind, solar and battery storage projects in various regions of Australia. Now the portfolio is being expanded and increased.

The additional financing is being provided by a consortium of 11 international commercial banks and totals around AUD 1.4 billion. KfW IPEX-Bank is participating with around AUD 107 million, which corresponds to around EUR 65 million. The financing package provides Neoen with further flexibility to expand the platform in the future.

KfW IPEX-Bank contributed to both tranches of the portfolio financing portfolio. The total financing of the portfolio now amounts to over AUD 2 billion and represents a diversified capacity of 2.9 GW across a total of 15 projects.

‘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,’ said Dr Velibor Marjanovic, Member of the Management Board of KfW IPEX-Bank. ‘With our contribution, we are once again emphasising our commitment to advancing the energy transition worldwide.’