Neoen launches its first photovoltaic plant in Canada

Neoen (ISIN Code: FR0011675362, mnemonic code: NEOEN), one of the world’s leading producers of exclusively renewable energy, celebrated yesterday the launch of its Fox Coulee solar farm, located in Starland County, Alberta. It is scheduled for commissioning in the coming weeks. With a capacity of 93 MWp, the plant has been producing clean electricity since December 2023 and once fully operational, will produce around 100 GWh of green electricity per year, equivalent to the annual consumption of around 20,000 homes. It will avoid around 70,000 tons of CO2 per year. The solar farm is 100% owned by Neoen.

Neoen intends to sell a significant part of the electricity generated, together with the environmental benefits, via power purchase agreements. The remainder will be sold on Alberta’s deregulated electricity market. The farm will contribute to the target of achieving carbon neutrality by 2035 set by the Province of Alberta and the federal government.

In accordance with its Sustainability Framework, Neoen has called on Frank Hadfield, a local artist, to develop a work of art at the entrance to the photovoltaic plant: a dinosaur, representing the Albertosaurus, predator that used to live in the area.

Neoen has the ambition to become a leading player in Canada and has strengthened its position with this first solar power plant now in operation. In addition to Fox Coulee solar farm, Neoen’s Canadian portfolio of secured projects already includes the 400 MW / 1,600 MWh Grey Owl Storage, located in Ontario, which is supported by a 380 MW / 4-hour capacity contract that has been awarded to Neoen last month. Established in Calgary in 2022, Neoen is now also present in Toronto, and its Canadian teams are developing numerous solar and storage projects in Alberta, Saskatchewan, and Ontario working with all local players and the farming community to develop new renewable projects in Canada.

Ryan Dick, Neoen’s Province Leader in Alberta, said: « The Fox Coulee solar farm represents a major milestone in our efforts to expand renewable energy in Canada. This first asset exemplifies our commitment to conduct best in class project development work that prioritizes stakeholder engagement and environmental protection and to provide high-quality, sustainable energy solutions that will significantly contribute to both the province’s and the country’s carbon neutrality. We have high ambitions in Alberta and are currently developing many other solar, wind and battery projects to accelerate the energy transition. »

Founded in 2008, Neoen is one of the world’s leading independent producers of exclusively renewable energy. With proven expertise in solar power, onshore wind power and storage, the company plays an active role in the energy transition by producing competitive, clean, local energy on four continents. After a six-fold increase in the last six years, its capacity in operation and under construction stands at 8.4 GW.

Neoen’s flagship operations are France’s most powerful solar farm (300 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) and on the SBF 120 and CAC Mid 60 indexes.

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