Neoen has announced its confirmed targets for 2025 and a new plan to reach over 20 GW of assets under operation or construction by 2030. The company aims to have over 10 GW of assets in operation or under construction by the end of 2025 and has increased its total investment to EUR6.2 billion (US$6.5 billion) over the 2021-2025 period. The company's total equity requirement is estimated at EUR750 million (US$792.8 million) over the same period.
To achieve its targets, Neoen will increase the storage duration per installed MW of the Group's future batteries, requiring an additional equity financing of EUR150 million (US$158.6 million) between 2023 and 2025. The company has also confirmed its policy of a progressive rise in dividend per share over the 2023-2025 period, and aims to attain the pace of at least 2 GW in new project wins per year from 2025.
Neoen's adjusted EBITDA is expected to be between EUR460 million and EUR490 million in 2023, compared to EUR414 million in 2022. The company aims to achieve an adjusted EBITDA of over EUR600 million in 2025, with a confirmed target of double-digit annual growth in adjusted EBITDA over the 2023-2025 period.
