Neoen Renewable Energy: Company Overview & Strategy

Disclaimer
This presentation contains forward-looking statements regarding the prospects and growth strategies of Neoen and its subsidiaries
(the “Group”). These statements include statements relating to the Group’s intentions, strategies, growth prospects, and trends in its
results of operations, financial situation and liquidity. Although such statements are based on data, assumptions and estimates that the
Group considers reasonable, they are subject to numerous risks and uncertainties and actual results could differ from those anticipated
in such statements due to a variety of factors, including those discussed in the Group’s filings with the French Autorité des Marchés
Financiers (AMF) which are available on the website of Neoen (www.neoen.com). Prospective information contained in this presentation
is given only as of the date hereof. Other than as required by law, the Group expressly disclaims any obligation to update its forwardlooking statements in light of new information or future developments.
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1. Neoen in a few words
2. Our activities
3. Where we operate
4. A responsible company
5. Some key projects
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About us
Founded in 2008, Neoen is the leading French independent
producer of renewable energy and a major player on
the world stage.
Our mission: we design and implement the means to produce
the most competitive renewable electricity, sustainably and on
a large scale.
Our total capacity in operation or under construction is currently
close to 6.6 GW and we are aiming for more than 10 GW by end
2025, with the ambition to reach 20 GW by 2030.
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About us
503.2 M€
6.6 GW
17 countries
≥ 10 GW
Full-year revenue
in 2022
In operation
or under construction
International
player
Target
for 2025
Neoen’s energy sales
were up by 51% in 2022
compared to 2021
Total capacity in operation
or under construction at end
of December 2022.
N°1 French independent
power producer of
renewable energy.
We are aiming for 10 GW
in operation or under
construction by end 2025.
Leading producer
in Australia.
One of the world’s leading
producers of exclusively
renewable energy.
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Our values
Audacity
Integrity
Commitment
Esprit de corps
We believe we can become a world
leader in renewable energy. We have
the audacity to operate globally,
imagining, designing and implementing
competitive, effective energy
solutions.
We operate with integrity, whatever
we do, whenever and wherever we
do it. We work with partners who
abide by the same rules.
Our ethical approach is an asset in
our worldwide operations.
We uphold all our commitments,
internal and external. We believe in
hard work and take pride in a job well
done.
We are loyal to each other and form
a close-knit team. We are proud of
our company, our goals and our
accomplishments.
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Our story so far
2016
Neoen tops the 1 GW
in operation or under
construction worldwide
2009
France
First solar farm
2018
Australia
Hornsdale wind farm,
316 MW
Finland
Power purchase
agreement signed
with Google
El Salvador
Providencia solar farm,
101 MWp, one of the
most powerful in
Central America
Successful IPO
on the Paris Stock
Exchange
2020
2022
Finland
Yllikkälä Power Reserve,
30 MW / 30 MWh,
Scandinavia’s largest
lithium-ion storage facility
Storage: 1 GW
In operation or under
construction with the launch
construction on Western Downs
Battery, (200 MW / 400 MWh)
and Blyth Battery (200 MW /
400 MWh) in Australia,
and Storen Power Reserve
(40 MW / 40 MWh) in Sweden
Australia
Construction of the
Western Downs solar
farm, 460 MWp, the
largest in the country
Mexico
El Llano solar farm,
375 MWp Record price
at $19 / MWh
Canada
A new country of operation
for Neoen, with the start of
construction of Fox Coulee
solar farm, 93 MWp
0.9 GW of PPAs signed
in Australia, France,
Finland and Sweden
Australia
First baseload PPA signed
with BHP, thanks to 412 MW
Goyder (under construction),
Blyth Battery and our energy
management expertise
El Salvador
Capella solar farm,
140 MWp
2021
2008
2010-13
Creation
of Neoen
Expansion
to Portugal,
Australia and
Mexico
2015
France
Cestas, 300 MWp,
Europe’s most
powerful solar farm
2017
Australia
Hornsdale Power
Reserve, 100 MW / 129
MWh, the world’s first
big battery
2019
Australia
Extension of the
Hornsdale Power Reserve,
150 MW / 193 MWh
France
Azur Stockage, 6 MW / 6 MWh,
the first stationary battery
in mainland France
1 GW in France and 2 GW in
Australia of assets in operation
or under construction
Australia
Construction of the Victorian Big
Battery, 300 MW / 450 MWh,
one of the largest batteries
in the world
Finland
Construction of the
Mutkalampi wind farm,
404 MW, the largest
in Finland
Argentina
Altiplano solar farm,
208 MWp
International operations
EUROPE-AFRICA
Finland
Sweden
AMERICAS
Ireland
Canada
Germany
Mexico
Croatia
El Salvador
Jamaica
Ecuador
Argentina
Italy
France
Portugal
AUSTRALIA
Australia
Zambia
Mozambique
Countries with assets in operation or under construction
Additional countries with projects in advanced development
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Key figures
Technology breakdown(1)
Geographic breakdown
15%
16%
6.6 GW (1)
Revenue type breakdown(2)
22%
6.6 GW (1)
50%
45%
6.6 GW (1)
34%
40%
Solar
Wind
Storage
Australia
3,284 MWp 2,208 MW 1,082 MW
Solar
Wind
Storage
(1) Capacity in operation or under construction as of December 31, 2022
(2) Weighted average by MW for assets in operation or projects under construction as of December 31, 2022
78%
Europe-Africa
Under PPA
Americas
Merchant
4 continents
361
503.2 M€
6.2 B€
414 M€
17 countries
Employees
Revenue 2022
Balance 2022
EBITDA 2022
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Neoen S.A. has been listed since October 2018 (1)
Ownership structure
4.39 % Bpifrance
6.92 % FSP
42.16%
Impala(2)
45?10 %
Free float
1.30 % Cartusia(2)
Mr. Xavier Barbaro
(1) Compartment A of the Euronext Paris market. Neoen joined the SBF120 Paris Index in June 2020.
(2) Impala and Cartusia are acting in concert. Cartusia is a long-term investment vehicle controlled by Mr. Xavier Barbaro and his family.
As of March 27, 2023.
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Our activities
What we do
Solar power
Wind power
Storage
The sun is the most widely available source of
energy on earth and the quickest to deploy. Solar
power was Neoen’s first sector and remains our
main business line.
Onshore wind farms are a mature source of
renewable energy at competitive rates. We are
developing wind farms in Australia, El Salvador,
Finland, France, Ireland, Portugal, and Sweden.
Energy storage is the answer to the volatile
nature of renewable energy sources. At 300
MW/450 MWh the Victorian Big Battery is one of
the world’s largest lithium-ion batteries. We now
have storage units in Australia, France, Finland,
Sweden and El Salvador.
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A long-term “develop to own” strategy
Development and design
Financing
Construction
Operations
First, we assess the technical,
economic, societal and environmental
feasibility of our projects.
We finance our projects through a
combination of equity contributions and
long-term debt, mainly through nonrecourse financing, and the creation of a
separate company for each project
developed.
As project owner, we are closely
involved in supervising the construction
of our power plants. We ensure that
each plant is a high quality and
sustainable asset, with a life span of
several decades.
Our equity increases regularly, thereby
providing us with a solid and sustainable
financial base and a growing investment
capacity
We deal with tier-1 contractors and other
suppliers and seek to involve local
suppliers in the construction work.
As an energy producer, we are
particularly attentive to the functioning
of our power plants worldwide. They are
monitored in real time by our team of
specialists and their maintenance is
performed by our subcontractors under
O&M contracts.
Then we define the project, based on
the characteristics of the site and the
resources available. This process
includes engaging in constructive
dialogue with stakeholders, local
residents and communities, elected
representatives and government
agencies..
Through our Energy Management
expertise, we supply customised,
integrated renewable energy solutions
which leverage our asset portfolio and in
depth market knowledge.
We own nearly 92%(1) of our plants, and operate them in the long term to create long lasting value
(1) Assets in operation or under construction (including co-investment) per MW, at end of 2022
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A track record of landmark large-scale projects (1)
Cestas
Hornsdale Wind Farm
Providencia Solar
Largest solar park in France
Neoen’s first large wind farm
First large-scale PV plant connected to the grid
300 MWp
250
983,500
hectares
Solar panels
• Highly innovative operations, structuring and engineering
with high MW / ha ratio
• Value-creating refinancing in 2017
• Land ownership / long-term value
• Operations supervised by Neoen
317 MW
99
150 MW / 193.5 MWh
Wind turbines
• Built in 3 phases and commissioned in 2016
• Awarded a 20-year contract with Australian Capital Territory,
in a competitive process
• Local indigenous Australian art featured on two of the wind
towers in a world-first
101 MWp
300,000
5.5 MW / 3.6 MWh
Solar panels
• Most powerful solar farm in Central America, commissioned
in 2017
• $500,000 invested in local development each year since 2017
• Collocated with Providencia Power Reserve 5,5 MW / 3,6 MWh
• Collocated with Hornsdale Power Reserve150 MW / 193,5 MWh
(1) Total project investment represents total project costs excluding costs related to project financing
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A track record of landmark large-scale projects (2)
El Llano
Victorian Big Battery
Mutkalampi
Most competitive solar project in Mexico
One of the word’s largest batteries
Largest wind farm in Finland
375 MWp
830
1,100,000
280 M€
hectares
Solar panels
Invested(1)
300 MW / 450 MWh
210
Tesla Megapacks
• Largest project from the third Mexican renewable energy tender
at a record-low price
• Under a 250 MW System Integrity Protection Scheme (SIPS)
contract with the Australian Energy Market Operator
• Competition from world-class power companies such as
Acciona, Actis, Canadian Solar, EDF, Enel, Engie, Fotowatio,
Iberdrola, Jinko Solar and X-Elio
• Provision of an automatic instant response in the event of an
unexpected network outage and fast frequency control
(1) Total project investment represents total project costs excluding costs related to project financing
404 MW
69
wind turbines
2%
of Finland’s
annual production
• Highly competitive large-scale renewable energy, which delivers
value for multiple customers (Google, Heineken, Nobian, Philips
and Signify).
• Gradual energization from 2022 to 2023
• Construction in less than one year
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Proven ability to capture diverse revenue channels
Examples of long-term contracts
Government
and public entities
Arue - 40.4 MWp
Utilities
Western Downs - 460 MWp
Private companies
Hedet - 81 MW
Spot market
National energy markets
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We have surpassed 1 GW of storage
EUROPE
AUSTRALIA
Yllikkälä Power Reserve (2020)
Azur (2019), Pod tredan (2022),
Antugnac (2022)
30 MW / 30 MWh
22 MW / 22 MWh
Hornsdale Power Reserve
(2017)
Hornsdale Power Reserve
Extension (2020)
100 MW / 129 MWh
Storen Power Reserve
(2024(1))
Western Downs Storage (2024(1))
Capital Battery (2023(1))
40 MW / 40 MWh
50 MW / 64.5 MWh
100 MW / 200 MWh
AMERICAS
DeGrussa (2016)
200 MW / 400 MWh
Victorian Big Battery
(2021)
300 MW / 450 MWh
Blyth Battery (2025(1))
200 MW / 400 MWh
Bulgana (2020)
Albireo (2020),
Antares (2022)
6 MW / 1.4 MWh
20 MW / 34 MWh
14 MW / 10 MWh
Behind the meter
Notes: Assets in operation or under construction, Year of operations start date
(1) Expected commissioning date
Stand alone
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Where we operate
Reinforcing our position as a local leader in Australia
Kaban
Solar
Wind
In operation: 458 MWp
Under construction: 460 MWp
In operation: 521 MW
Under construction: 569 MW
Under construction
Western Downs
DeGrussa
6 Offices
Storage
In operation: 476 MW / 679 MWh
Under construction: 500 MW / 1,000 MWh(2)
Adelaide • Brisbane
Canberra • Melbourne
Perth • Sydney
Under construction
Hornsdale HPRX
Dubbo
Blyth Battery
Under construction
Griffith
Goyder South Stage 1
Under construction
Coleambally
Bulgana
Parkes
Capital Battery
Numurkah Under construction
Victorian Big Battery
Total Capacity(1)
Total capacity in operation: 1,455 MW
Total capacity under construction: 1,529 MW
(1) As of December 31, 2022
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Neoen, a local leader in France
Solar
Wind
In operation: 627 MWp
Under construction: 320 MWp
In operation: 418 MW
Under construction: 64 MW
Storage
7 Offices
In operation: 14 MW / 14 MWh
Under construction: 8 MW / 8 MWh
Aix-en-Provence • Bordeaux
Lyon • Nancy • Nantes
Paris • Toulouse
Total Capacity(1)
Total capacity in operation: 1,060 MW
Total capacity under construction: 392 MW
Power plants in operation, under construction or in pre-construction
(1) As of December 31, 2022
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Neoen in Finland
Wind
Lumivaara
Awarded
In operation: 485 MW
Under construction: 40 MW
Mutkalampi
Storbötet
Awarded
Storage
Office
In operation: 30 MW / 30 MWh
Helsinki
Hedet
Bjorkliden
Under construction
Yllikkälä
Total Capacity(1)
Total capacity in operation: 515 MW
Total capacity under construction: 40 MW
(1) As of December 31, 2022
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Neoen in Europe
Solar
Wind
In operation: 652 MWp
Under construction: 650 MWp
In operation: 957 MW
Under construction: 162 MW
13 offices
Storage
In operation: 44 MW / 44 MWh
Under construction : 48 MW / 48 MWh
Aix-en-Provence • Bordeaux • Brescia
Dublin • Helsinki • Lisbon • Lyon • Nancy
Nantes • Paris • Stockholm • Toulouse
Zagreb
Total Capacity(1)
Total capacity in operation: 1,652 MW
Total capacity under construction: 860 MW
(1) As of December 31, 2022
Countries with assets
in operation or under
construction
Countries with projects
in advanced development
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Neoen in Africa
Solar
In operation: 54 MWp
Under construction: 41 MWp
2 offices
Metoro
41 MWp
Lusaka • Maputo
Under construction
Bangweulu
54.3 MWp
In operation
Total Capacity(1)
Total capacity in operation: 54 MWp
Total capacity under construction: 41 MWp
(1) As of December 31, 2022
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Neoen in the Americas
Solar
Storage
In operation: 876 MWp
Under construction: 93 MWp
In operation: 14 MW / 10 MWh
EI LIano
Paradise Park
Providencia
Albireo Power Reserve
7 offices
Buenos Aires • Calgary
Kingston • Mexico City • Quito
San Salvador • Seattle
Altiplano
(1) As of December 31, 2022
Total Capacity(1)
Countries with assets
in operation or under
construction
Total capacity in operation: 890 MW
Total capacity under construction: 93 MW
Additional countries
with awarded projects
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Significant recent achievements
Corporate PPAs
Governmental tenders
Big Batteries
Signing of multiple PPAs
In France
Under construction
10
865 MW
272.5 MW
400 MW - 800 MWh
Corporate PPAs signed
Total capacity
Total capacity awarded in 2022
Total capacity
Australia
575 MW
Sweden
126 MW
Finland
102 MW
•
180 MW in solar and wind projects awarded in the latest
technology-neutral call for tenders held by the French
government
•
#1 in both the solar and wind categories
•
Over the last 2 years, Neoen has ranked #2 in the
French call for tenders
Western Downs Battery
200 MW / 400 MWh
H2 2024
Blyth Battery
200 MW / 400 MWh
2025
France
62 MW
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A responsible company
Sustainability is in our DNA
200 M€
syndicated loan linked
to ESG criteria – 2020
170 M€
first ever European Green
Convertible Bond – 2020
Community fund
Agrisolar
Art & sponsorship
Gender index 100/100
...as recognized by Vigeo Eiris
65/100
Green finance
ESG score (1)
TOP 2%
(1) Neoen achieved Advanced level and ranked 11th among the 90 best companies rated by Moody’s
among the 4901 companies assessed - Moddy’s ESG solutions – April 2022
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Our framework is anchored by 3 foundational pillars
Our people
Our projects
Our communities
Working together to speed up
the transition
Driving excellence
in sustainability
Participating in the transition
with us
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Our people: working together to speed up the transition
Working Ethically
Encouraging Diversity
Reducing Emissions
Respect and protect our core value of
integrity at all levels of the company
Respect for the principles of fairness,
inclusion and non-discrimination, encouraging
gender balance
Respect for the planet and the environment,
monitoring and mitigating our carbon footprint
ACTIONS
ACTIONS
ACTIONS
• 100% of our employees formally commit to
Neoen’s Code of Conduct
• Exceed industry benchmark of 32% women
working at Neoen, in each of our regions
• Calculate our global carbon footprint
(including scope 1, 2, 3)
• 100% of our employees formally commit to
Neoen's Anti Corruption code and are
trained in the fight against corruption
• Increase annually the percentage of
management positions held by women
• Support roll-out of at least one additional
“Greener Neoen1” initiative each year:
in 2021, 100% offset of the company’s
travel emissions
(1) “Greener Neoen” is a spontaneous internal think tank which objective is to drive Neoen to go “above and beyond” on the
aspects of our business that relate to emissions reductions and the environment
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Our projects: driving excellence in sustainability
Prioritising Safety
Protecting Biodiversity
Integrating Recycling
Maintaining a robust health and safety culture
for our employees, contractors and
subcontractors
Monitoring, limiting and mitigating our
environmental and biodiversity impact across
the project lifecycle
Planning for future decommissioning of plants
and recycling of all materials
ACTIONS
ACTIONS
ACTIONS
• Collate & report frequency and severity of
accident and incident rates of our
contractors
• Conduct environmental impact assessment
by expert ecologists on 100% of sites during
development
• Conduct HSE compliance audit on 100%
of construction sites, monthly on sites > 20
MW in size, every 2 months on smaller sites
• Offset any unavoidable environmental
impact in accordance with local
requirements, with each project selecting
one 'above and beyond' biodiversity initiative
• Identify recycling channels for all our
activities
• Integrate a recycling commitment clause into
all new supply agreements, in countries with
a mature recycling industry
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Our communities: participating in the transition with us
Consulting & Engaging
Economic Development
Benefit-Sharing
Developing genuine, open and ongoing
relationships with local communities and
stakeholders
Delivering local and regional economic
development through employment, supply
chain outcomes and skills development
Tailoring community benefit-sharing initiatives
with and for the local community
ACTIONS
ACTIONS
ACTIONS
• Conduct community consultation and
information-sharing on all projects during
development, even if not mandated
• Engage with local business and employment
networks, prioritising local suppliers and
jobseekers where possible
• Develop a benefit-sharing initiative for each
new project over 50 MW
•
•
Develop a Community Engagement Plan1
for 100% of our new projects over 50 MW
in scale
Local Participation Plan2 developed for
projects over 100 MW in scale
(1) Community Engagement Plan is a comprehensive internal tool which guides and maps our consultation and engagement across a
project’s lifecycle from early stages of assessing feasibility through until decommissioning | (2) Local Participation Plan is a sister document
to the Community Engagement Plan which identifies and maps potential local and regional economic outcomes such as job creation, supply
chain opportunities, apprenticeships and training.
• Create an artwork that celebrates the
encounter between renewable energy
and local culture for each new project over
50 MW in size
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Some examples of our initiatives
El Salvador
Zambia
Australia
• Social investment fund for local development
• Community development project to improve
food security for 500 rural households
• Promoted the creation of the Renewable
Energy Skills Centre of Excellence of the
Canberra Institute of Technology
• 3% of Providencia’s annual contracted
revenues are donated to social development
projects
• Funds have been used to develop
infrastructure for the community
• Plan launched in 2019 with first trainees
and demonstration plot established along
the roads
• Supporting community / local social
institutions
• Combining sheep grazing with solar on all
five of our solar farms as part of our
vegetation management
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Some examples of our artworks (1)
Honsdale, 2015
Capella, 2019
317 MW wind farm
140 MWp solar farm
Providencia, 2017
101 MWp solar farm
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Some examples of our artworks (2)
Hedet, 2020
Antugnac, 2022
81 MW wind farm
8 MW / 8 MWh storage
Kaban, 2022
Yllikälä, 2020
157 MW wind farm
30 MW / 30 MWh storage
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ARGENTINA
AUSTRALIA
CANADA
CROATIA
ECUADOR
EL SALVADOR
FINLAND
FRANCE
GERMANY
IRELAND
ITALY
JAMAICA
MEXICO
MOZAMBIQUE
PORTUGAL
SWEDEN
ZAMBIA