CEFC Invests to Construct More Storage and Wind with Neoen in South Australia

Australia’s Clean Energy Finance Corporation (CEFC) is ramping up support for key assets in Australia’s clean energy transition, committing A$99 million to the second part of Neoen Goyder South Stage 1 Wind Farm and the Blyth Battery in South Australia. The investment will support the construction of 203 MW of renewable energy generation and 238.5MW / 477MWh of battery storage.

Goyder South Stage 1 forms part of the Neoen flagship Goyder Renewables Zone, 150 kilometres north of Adelaide. Once complete, the site will be the largest wind asset, and one of the most competitive in Neoen’s global portfolio, boasting 76 wind turbines.

Goyder South Stage 1, along with the nearby Blyth Battery, will provide firm green power to BHP’s Olympic Dam, helping decarbonise one of the world’s largest critical mineral mines through a renewable energy baseload contract that will meet about half its electricity needs. 

Under the innovative Olympic Dam contract, Neoen will integrate output from the second tranche of Goyder South Stage 1, firming the intermittent wind energy with the storage capacity of the Blyth Battery and its energy management expertise.

The project will support Australian manufacturing, with the installation of wind turbine anchor cages manufactured in Sydney by Allthread Industries using Australian steel. The steel includes about 50% recycled material. There are currently more than 400 construction workers at Goyder South and 40 at Blyth Battery, with a further 15 permanent positions expected during operation.

Neoen, one of the world’s leading independent producers of exclusively renewable energy, will own and operate the development.

The CEFC investment is alongside KfW IPEX-Bank, Westpac, ING and Mizuho in a further demonstration of the impact of CEFC capital in attracting international finance to the development of Australian clean energy assets. 

CEFC CEO Ian Learmonth said: “This investment builds on our long-standing support for the enabling technologies that will transform the grid and deliver clean energy to households and businesses around Australia. By developing additional renewable energy generation alongside the firming and storage capacity of large-scale batteries, we can continue to decarbonise the grid while ensuring stability.”