Renewable Energy Producer Neoen on Track to Achieve 10 GW Renewable Energy Target by 2025

Renewable energy producer, Neoen, has announced a mid-term update of its 2021-25 strategic roadmap, revealing its progress towards reaching its ambitious targets.

The company plans to have at least 10 GW of assets in operation or under construction by 2025 and is on track to achieve this with 6.6 GW already in the pipeline.

Neoen plans to focus on strengthening its position in existing geographies, expanding its customer base, and stepping up storage investments.

The company intends to win at least 2 GW of new projects per year from 2025, and with a strong track record in successfully converting its pipeline into secured projects, Neoen is confident it will reach this target. The company is also looking ahead to 2030 and believes it has the capability to have 20 GW of assets in operation or under construction.

Neoen is a global renewable energy company that specializes in the development, construction, and operation of solar, wind, and energy storage projects. The company was founded in France in 2008 and has since expanded its operations to more than 16 countries around the world, including Australia, Finland, France, Ireland, Portugal, and Canada, among others.

With a strong focus on innovation and sustainability, Neoen has become one of the world’s leading independent producers of renewable energy, with a portfolio of over 6.6 GW of renewable energy projects in operation or under construction as of year-end 2022. The company’s goal is to reach 10 GW of assets in operation or under construction by the end of 2025, and 20 GW by 2030.

For 2023, Neoen expects adjusted EBITDA of between €460 million and €490 million, with an adjusted EBITDA margin of around 80%. In 2022, Neoen achieved an adjusted EBITDA of €414 million.

These targets reflect the Group’s expected growth in its assets in operation or under construction, and its expectations regarding the private tenders’ market growth, a continued move towards competitively set power purchase prices, and trends in the global renewable energies market.