Neoen SA, a French renewable energy company, is considering selling a 30% stake in the Australian division for 1.0 billion euros ($1.1 billion). This is reported by foreign media.
The deal is aimed at financing the further development of Neoen's business in Australia in accordance with Neoen's strategy to expand its presence in international markets after 2025 without selling shares of the parent company.
Neoen has engaged consultants to study the proposed terms of the deal, which may take place in the second half of 2024, but a final decision has not yet been made.
In 2023, Neoen suffered losses due to investor concerns amid rising interest rates and equipment costs, which could undermine the profitability of solar and wind energy projects.
Neon is engaged in the development, financing, construction and operation of green energy facilities in France. The company is developing technologies capable of providing large-scale solutions to energy problems by generating electricity from various sources, including solar and wind energy, biomass and methane recovery.
In addition, Neon has developed flagship energy storage projects Hornsdale Power Reserve and Victorian Big Battery. Impala SAS owns 42% of the company's shares. The headquarters is located in Paris (France).
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