French renewable energy producer Neoen has reached financial close on the 189MW Coleambally solar farm in New South Wales, moving closer to its goal of owning and operating 1GW of assets in Australia.
The financing of the project was done in collaboration with specialist clean energy financier Cefc, German banks Landesbank and KfW Ipex, Neoen said.
In addition, energy retailer EnergyAustralia committed to buy 100MW of new renewable energy from the solar farm through a 12-year power purchase agreement.
