Neoen completes financing for 300 MW Victorian Big Battery project in Geelong

Neoen SA has reached financial close on the 300 MW/450 MWh Victorian Big Battery storage facility in Victoria, Australia.

The project, owned and operated by Neoen, will be delivered in collaboration with Tesla Inc. and network partner AusNet Services Ltd. It will be funded with equity from Neoen and AUD160 million (US$123.5 million) in senior debt provided by the Clean Energy Finance Corp., on behalf of the Australian government.

Construction has started, with the project on track to be delivered before the next Australian summer in 2022.

Under the contract, the battery will provide an automatic response in the event of an unexpected network outage, providing AEMO with an additional resource to ensure grid stability.