Neoen
Neoen is an independent French renewable energy producer that develops, builds, and operates utility-scale solar, wind, and battery storage assets across 15 countries, serving utilities, governments, and large corporate offtakers under long-term power purchase agreements; it is wholly owned by Brookfield since 2024.
- Company typePrivate
- Founded2008
- HeadquartersParis, France
- Headcount251–500
- GTM typeB2B
- OfferingServices
What Neoen does
Neoen is an independent French renewable energy producer founded in 2008 and headquartered in Paris. The company develops, finances, builds, and operates utility-scale solar farms, onshore wind farms, and battery energy storage systems (BESS), with 9.3 GW of capacity in operation, under construction, or under management across 15 countries and an ambition to reach 20 GW by 2030. Neoen pioneered grid-scale battery storage with the Hornsdale Power Reserve in South Australia in 2017 and continues to lead in adjacent innovations including grid-forming battery technology, virtual battery services, and integrated hybrid renewable platforms such as the Goyder Renewables Zone and Western Downs Green Power Hub.
The company generates revenue through three principal streams: long-dated (15-25 year) power purchase agreements with utilities, governments, and large corporate energy buyers; capacity payments and grid services from transmission system operators for frequency regulation, inertia, and trading; and asset divestment (farm-down) of completed operating projects to long-term infrastructure investors such as HMC Capital and Eni's Plenitude. PPAs typically generate EBITDA margins above 80%, providing annuity-like cash flows, while the farm-down model recycles development capital into the pipeline. Customers include Equinix, BHP, Google, Shell Energy, ENGIE, AGL, SNCF, SaskPower, IESO and Stanwell Corporation, alongside Indigenous co-ownership partners in Canada (Eagle Lake, Garden River, Matachewan, Anishinabek, Saugeen Ojibway).
Since December 2024 Neoen has been wholly owned by Brookfield Renewable Holdings SAS following a €6.1 billion take-private that delisted the company from Euronext Paris in April 2025. Backed by Brookfield's capital base, Neoen has secured AU$10 billion to expand its Australian portfolio to 10 GW by 2030 and is actively expanding its BESS footprint in Canada, France, Italy, Ireland, and Japan, while pursuing 24/7 carbon-free power contracts with heavy-industry and data-center offtakers.
Neoen firmographics
Firmographics- Name
- Neoen
- Legal name
- Neoen S.A.
- Website
- https://neoen.com
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Neoen is an independent French renewable energy producer that develops, builds, and operates utility-scale solar, wind, and battery storage assets across 15 countries, serving utilities, governments, and large corporate offtakers under long-term power purchase agreements; it is wholly owned by Brookfield since 2024.
- Ownership category
- akta.pro rank
Neoen industry classification
Industry- Product category
- Renewable Energy Generation
- NAICS
- Electric Power Generation (22111), Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Electric Power Generation, Transmission and Distribution (2211)
- SIC
- Electric Services (4911)
- akta.pro primary industry
- Utility-Scale BESS Project Development & Ownership (IPP/Developer) (EUAFAAAA)
- akta.pro secondary industries
- BESS EPC, Integration & Commissioning (EUAFAAAB), BESS Market Participation & Trading Services (Ancillary/Capacity/Arbitrage) (EUAFAAAL), Utility-Scale BESS EPC & Integration (EUAEAEAA), BESS Augmentation, Repowering & Life-Extension Services (EUAFAAAK), BESS Financing, Insurance & Contracting (Tax Equity, PPA/Tolling, Warranties) (EUAFAAAI)
Keywords
Where Neoen is headquartered
LocationHeadquarters
- HQ city
- Paris
- HQ country
- France
- HQ region
- Europe
Offices5 records
Markets served
Neoen business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D
Revenue model
- Power Purchase Agreements (PPAs): Neoen derives stable cash flows from 15-25 year PPAs with utilities, governments, and industrial customers. These contracts provide annuity-like returns with typical EBITDA margins above 80%.
- Capacity Payments and Grid Services: Revenue from providing grid services including frequency regulation, inertia, and capacity to transmission system operators. Battery assets generate revenue from both energy trading and capacity auctions.
- Asset Divestment (Farm-down): Neoen develops and constructs projects before selling operating assets to long-term infrastructure investors, as demonstrated by Victorian portfolio sale to HMC Capital (AU$950m) and French portfolio to Eni's Plenitude.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Neoen product offering
Product offeringCore offering
Neoen develops, finances, builds, and operates utility-scale solar, wind, and battery energy storage systems (BESS) across 15 countries. The company delivers renewable electricity to utilities, governments, and large industrial consumers through long-term power purchase agreements (PPAs) of 15-25 years and participates in competitive procurement auctions. Neoen pioneered grid-scale battery storage with the Hornsdale Power Reserve in 2017 and continues to lead with grid-forming technology, virtual battery services, and integrated hybrid projects.
Product overview
Neoen is an independent renewable energy producer specializing in utility-scale solar, wind, and battery storage assets across 15 countries. The company operates on a platform model combining generation assets (solar farms, wind farms) with storage solutions (battery energy storage systems) to deliver continuous renewable power. Core offerings include standalone solar and wind projects, battery storage systems ranging from 40 MWh to over 2,000 MWh, and integrated hybrid platforms like the Goyder Renewables Zone and Western Downs Green Power Hub. Neoen also offers virtual battery services allowing customers to contract storage capacity. Key storage products include the Hornsdale Power Reserve (world's first utility-scale battery) and the Western Downs Battery. The company targets governments and industrial customers with 15-25 year power purchase agreements, maintaining 9.3 GW of capacity in operation, construction, or under management with ambitions to reach 20 GW by 2030.
Differentiator
Problem solved
Functional benefit
Products and services
- Solar Energy Generation
- Wind Energy Generation
- Battery Energy Storage Systems (BESS)
- Hornsdale Power Reserve
- Virtual Battery Services
- Goyder Renewables Zone
- Western Downs Green Power Hub
Quantifiable outcome
- 9.3 GW capacity in operation, construction, or management
- +3 more outcomes
Companies that use Neoen
Customer profileNamed customers12 records
Segments4 records
Ideal customer profiles4 records
Neoen technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Neoen partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core.
- Eagle Lake First Nationcore50/50 partnership to build a 200-MW/1,600-MWh battery storage facility approximately 15 km west of Dryden in Ontario, Canada. The project was awarded under Ontario's Long-Term 2 Capacity Window 1 procurement programme.
- Saugeen Ojibway NationcorePartnership for 400 MW / 4-hour battery project in Ontario on the territory of Saugeen Ojibway Nation. Project awarded under Long-Term 2 Capacity Window 1 procurement.
- Equinixcore53 MW power purchase agreement for Arena Po solar farm in Italy. Equinix is the world's largest data center operator, supporting their sustainability goals and grid decarbonization.
- Garden River First Nationcore50% co-ownership partnership for 253 MWc / 200 MWac solar project near Dunns Valley, Ontario - the largest solar project in Ontario. Partnership demonstrates commitment to Indigenous participation in energy transition.
- Matachewan First Nationcore50% co-ownership partnership for 65 MWc / 50 MWac solar project near Paradis Bay, Ontario. Partnership supports Indigenous community economic development.
- Nidec ASI (Nidec Corporation)coreNidec ASI supplying BESS units for France's largest battery project (248 MW / 496 MWh) under a long-term service agreement. Construction scheduled to begin summer 2026 and complete by 2028.
- Anishinabek Power AlliancecorePartnership for Mino Giizis 100 MW solar project in Saskatchewan with 50% Indigenous ownership. Project will be largest solar farm in Saskatchewan with construction beginning 2027.
- TeslacoreTesla supplying Megapack battery units for multiple Neoen projects including Western Downs Battery (312 Tesla Megapack 2XL units) and Goyder North (first deployment of Tesla's new Megablock technology combining four Megapack 3 units).
- BHPcore10-year agreement to supply 100 MW of 24/7 renewable power to BHP's Copper South Australia mines from July 2029. Part of the broader Goyder Renewables Zone.
Scale indicators12 records
Recent moves10 records
Expansion highlights6 records
Neoen competitors and assessment
Company assessmentBroad incumbents
- Ørsted: One of the world's largest renewable energy companies, primarily known for offshore wind but expanding into solar and storage. Larger and broader incumbent than Neoen, with overlapping BESS and grid-services ambitions.
- Iberdrola Renovables: Global renewable energy division of Iberdrola, one of the world's largest utility groups. Operates utility-scale wind, solar, and storage globally with substantially larger portfolio than Neoen; competes for similar project pipelines and auctions.
Direct peers
- Boralex: Independently operated French-Canadian renewable IPP with utility-scale wind, solar, and storage assets across North America and Europe. Directly comparable to Neoen in size, technology mix, geographic footprint, and independent (non-utility) ownership model.
- Scatec ASA: Norwegian renewable IPP focused on solar, wind, and storage in emerging markets. Similar independent developer business model, comparable project economics with long-term PPAs, and overlap in storage technology.
- Encavis AG: German-based independent renewable energy operator with wind and solar parks across Europe. Comparable IPP business model with long-term PPAs, though Encavis focuses on operating rather than greenfield development.
- EDP Renováveis (EDPR): One of the world's largest renewable energy developers operating utility-scale wind and solar across Europe, North America, and Latin America. Comparable to Neoen in project development model, multi-technology approach, and PPA-driven revenue structure.
- Acciona Energía: Global renewable IPP subsidiary of Acciona, developing and operating utility-scale wind and solar across more than 20 countries. Directly comparable pure-play renewable developer model with similar long-term PPA structure and geographic diversification.
- Lightsource bp: Global utility-scale solar developer and operator, owned by BP. Competes directly with Neoen in solar and increasingly storage project pipelines across Australia, Europe, and the Americas.
- Innergex Renewable Energy: Canadian renewable IPP operating hydro, wind, solar, and storage across Canada, the US, France, and Chile. Comparable independent developer with contracted cash flows, multi-technology portfolio, and significant presence in French-speaking markets.
- Akuo Energy: France-based independent renewable energy developer and operator of solar, wind, and storage projects globally. Closely comparable independent IPP model with French heritage and similar project development approach.
Market position
Strengths5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Neoen social profiles
Digital presenceNeoen financial estimates
Financial estimateRevenue estimate
Valuation estimate
Neoen leadership team
Management profileNumber of profiles
Profiles6 records
Neoen subsidiaries and ownership
Company hierarchySubsidiaries1 record
Neoen funding detail
Funding detailFunding overview
Funding rounds11 records
Investors18 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Neoen M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Neoen
What does Neoen do?
Neoen develops, finances, builds, and operates utility-scale solar, wind, and battery energy storage systems (BESS) across 15 countries. The company delivers renewable electricity to utilities, governments, and large industrial consumers through long-term power purchase agreements (PPAs) of 15-25 years and participates in competitive procurement auctions. Neoen pioneered grid-scale battery storage with the Hornsdale Power Reserve in 2017 and continues to lead with grid-forming technology, virtual battery services, and integrated hybrid projects.
Is Neoen a public or private company?
Neoen is a private company. It is classified as private equity controlled and is currently operating.
When was Neoen founded?
Neoen was founded in 2008. It employs 251 to 500 people.
Where is Neoen based?
Neoen is headquartered in Paris, France, in the Europe region.
How does Neoen make money?
Three revenue lines are on record. Power Purchase Agreements (PPAs) is the primary driver. The others are capacity Payments and Grid Services and asset Divestment (Farm-down).
Who are Neoen's main competitors?
Broad incumbents on record are Ørsted and Iberdrola Renovables. Direct peers are Boralex, Scatec ASA, Encavis AG, EDP Renováveis (EDPR), Acciona Energía, Lightsource bp, Innergex Renewable Energy and Akuo Energy.
Does Neoen have an API?
No public API is recorded for Neoen.
What industry is Neoen in?
Neoen's product category is Renewable Energy Generation. Its primary akta.pro industry code is EUAFAAAA, Utility-Scale BESS Project Development & Ownership (IPP/Developer), with a secondary code of EUAFAAAB, BESS EPC, Integration & Commissioning. Its NAICS code is 22111 and its SIC code is 4911.