Neoen

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.

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

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

• Utility-scale solar
• Wind energy generation
• Battery energy storage
• Renewable power production
• Power purchase agreements

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D

Revenue model

1. 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%.
2. 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.
3. 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

Core 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

Named customers12 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Nine partnerships are on record, tiered core.

• Eagle Lake First NationcoreStrategic or Co-development Partner · 23 June 202650/50 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 NationcoreStrategic or Co-development Partner · 23 June 2026Partnership 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.
• EquinixcoreStrategic or Co-development Partner · 28 April 202653 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 NationcoreStrategic or Co-development Partner · 20 April 202650% 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 NationcoreStrategic or Co-development Partner · 20 April 202650% co-ownership partnership for 65 MWc / 50 MWac solar project near Paradis Bay, Ontario. Partnership supports Indigenous community economic development.
• Nidec ASI (Nidec Corporation)coreTechnology or Integration · 7 April 2026Nidec 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 AlliancecoreStrategic or Co-development Partner · 7 January 2026Partnership 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.
• TeslacoreTechnology or Integration · 23 December 2025Tesla 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).
• BHPcoreStrategic or Co-development Partner · 23 December 202510-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

Broad 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

• LinkedInfr.linkedin.com/company/neoen-renewables
• Xx.com/NEOEN_Energy

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds11 records

Investors18 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Neoen