Neoen and Smartestenergy Forge Major Power Purchase Agreement to Advance Renewable Energy in Australia
Sydney, Australia – [September 12, 2024] SmartestEnergy, an independent renewable energy company committed to delivering innovative energy solutions to Australian businesses, is proud to announce a landmark power purchase agreement (PPA) with Neoen, one of the world’s leading independent producers of exclusively renewable energy. This agreement marks another step forward in Australia’s transition to clean energy, reinforcing both companies’ commitment to a sustainable future.
Under the agreement, SmartestEnergy will source 50% of the energy output from Neoen’s Culcairn Solar Farm. This renewable energy project is located on Wiradjuri country in the Riverina region of New South Wales (NSW). The project is currently under construction and on track to be operational in 2026.
With a total generating capacity of 440 MWp / 350 MWAC, the Culcairn Solar Farm is set to contribute significantly to the region’s energy supply, supporting SmartestEnergy’s commercial and industrial offering to customers in NSW and advancing the clean energy transition.
“This agreement with Neoen underscores our purpose in the market to support the renewable transition. By partnering with Neoen, we continue to provide renewable energy solutions for our customers, and we can play our part in ensuring that the transition in Australia keeps pace,” said Robert Owens, CEO of SmartestEnergy Australia.
The four-year agreement represents a substantial commitment to sustainable energy solutions. SmartestEnergy will leverage this partnership to enhance its renewable energy offerings and drive progress towards Australia’s net zero goals.
Jean-Christophe Cheylus, Neoen Australia’s CEO, said: “We are delighted to sign our first PPA with SmartestEnergy, and we sincerely thank them for placing their trust in us. Construction of Culcairn Solar Farm is progressing well, and we are looking forward to the major contribution the project will play in powering businesses as well as supporting NSW’s rapid energy transition.”
Key Highlights of the Agreement
Parties Involved:
- Seller: Culcairn Solar Farm Pty Ltd (ACN 667 751 313) as trustee for the Culcairn Solar Farm Trust (ABN 89 192 112 952)
- Buyer: SmartestEnergy Australia
Agreement Details: 
- Duration: 4 years
- Energy Supply: 50% of solar farm’s output
Project Information:
- Location: Riverina region, NSW
- Capacity: 440 MWp / 350 MWAC
- Unique Features: The project will feature artwork based on Neoen’s Sustainability Framework, celebrating renewable energy and local culture.
Economic and Environmental Benefits
The Culcairn Solar Farm is poised to deliver substantial social, economic, and environmental benefits:
- Environmental Impact: Expected to displace approximately 648,000 tonnes of CO2 annually, equivalent to removing around 217,000 cars from the road.
- Economic Contributions: The project is set to deliver substantial local benefits. Currently, 300 construction workers are on-site, with the workforce expected to peak at 400 in the coming months. Once operational, the solar farm will create seven permanent positions and generate enough energy to power 160,000 homes. In addition, there will be a significant community benefit-sharing program totalling $10 million delivered over the asset’s lifetime.
- Strategic Benefits for SmartestEnergy Australia: The agreement will enhance SmartestEnergy Australia’s renewable energy portfolio, support the transition to clean energy for commercial customers, and strengthen the company's position as a leading energy retailer in the Australian energy market.
About Culcairn Solar Farm
Making a difference in NSW's South East Riverina region
The Culcairn Solar Farm is a 440 MWp renewable electricity project comprising solar arrays and battery storage. The project is now in construction near the town of Culcairn, New South Wales.
Visit the Culcairn Solar Farm websiteCompany Information
Founded in 2008, Neoen is one of the world’s leading independent producers of exclusively renewable energy. With expertise in solar power, wind power and storage, the company plays an active role in the energy transition by producing competitive, green, local energy on four continents. After a six-fold increase in the last six years, its capacity in operation and under construction stands at over 8.4 GW.
Neoen’s flagship operations are France’s most powerful solar farm (375 MWp) in Cestas, Finland’s largest wind farm (404 MW) in Mutkalampi, one of the world’s most competitive solar plants in Mexico (El Llano, 375 MWp) and two of the world’s most powerful large-scale storage plants, both in Australia: Hornsdale Power Reserve (150 MW/193.5 MWh storage capacity) and the Victorian Big Battery (300 MW/450 MWh).
A high-growth company, Neoen is targeting 10 GW in operation or under construction by the end of 2025. Neoen is listed in Compartment A of Euronext’s regulated market in Paris (ISIN code: FR0011675362, Ticker: NEOEN) on the SBF 120 and CAC Mid 60 indexes.
SmartestEnergy is a renewable energy company powered by a team of National Energy Market experts and strong customer relationships. Established in Sydney in 2020, we leverage two decades of UK success to deliver innovative clean energy solutions in Australia. As an asset-light, unbiased operator, we are committed to driving the global net zero transition. SmartestEnergy operates across Australia, the US, and the UK, and is a wholly owned subsidiary of Marubeni, a Fortune Global 500 company. SmartestEnergy Australia is a certified carbon-neutral organisation.
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