SUBSCRIBE
PROFILE

Neoen lowers its 2024 Ebitda forecast following a strategic delay in Australia

The French renewable energy producer Neoen adjusts its 2024 adjusted EBITDA forecast downward, as a result of delaying a key asset sale in Australia to 2025.

Share:

Subscribe for unlimited access to all the latest energy sector news.

Over 150 multisector articles and analyses every week.

For less than €3/week*

*For an annual commitment

*Engagement annuel à seulement 99 € (au lieu de 149 €), offre valable jusqu'au 30/07/2025 minuit.

SUBSCRIBE
The French company Neoen, a specialist in renewable energy, has announced a downward revision of its 2024 adjusted EBITDA forecast. This decision follows the postponement of the sale of a portfolio of assets and projects located in the state of Victoria, Australia, now scheduled for 2025. In a statement released…

The French company Neoen, a specialist in renewable energy, has announced a downward revision of its 2024 adjusted EBITDA forecast. This decision follows the postponement of the sale of a portfolio of assets and projects located in the state of Victoria, Australia, now scheduled for 2025.

In a statement released on Tuesday, Neoen indicated that its adjusted EBITDA for 2024 is expected to range between 475 and 490 million euros, compared to an initial estimate of 530 to 560 million euros. Nevertheless, the company clarified that this adjustment does not impact its growth trajectory, as a double-digit increase is still anticipated for its activities excluding the contribution of the divested assets.

Impact on the transaction with Brookfield

The company also reassured stakeholders regarding the progress of its ongoing transaction with the Canadian asset manager Brookfield. Brookfield is in the process of acquiring Neoen through a public takeover offer, which is expected to be completed in the first quarter of 2025.

The sale of the Australian assets is part of the commitments made by Brookfield to secure approval from the Australian competition authority. According to Neoen, this delay does not alter the terms of the deal.

Outlook for 2025

Despite this adjustment for 2024, Neoen reaffirms its ambition to achieve an adjusted EBITDA exceeding 700 million euros in 2025. The company also plans to increase its operational or under-construction capacity to 10 gigawatts (GW) during the year, further solidifying its leadership position in the renewable energy sector.

This strategic realignment, although modifying short-term forecasts, highlights the importance of Australia in Neoen’s global strategy. The country remains a key market for the company, which is developing large-scale projects there to support the global energy transition.

  • Popular on energynews.pro
Copenhagen Infrastructure Partners acquires major storage project in Arizona
X-energy and the Pentagon Accelerate Nuclear Microreactor for National Security
Iran cuts 1.4 GW to Iraq, Baghdad speeds up regional interconnections
China: Refineries Increase Output but Maintain Crude Oil Surplus
Meta partners with Central and Silicon Ranch for a 100 MW solar park
Scatec reports a 51% increase in revenue in the second quarter of 2025
The Norwegian group Scatec strengthens its position in emerging markets with a marked increase in revenue and its portfolio of projects under construction.
Masdar completes financing for the 2 GW Al Sadawi solar project in Saudi Arabia
The consortium led by Masdar has secured approximately $1.1 billion in financing to build one of the world’s largest solar power plants in Saudi Arabia’s Eastern Province.
The EBRD grants USD 150 million to Enerjisa to strengthen the Turkish power grid
The European Bank for Reconstruction and Development is financing the modernization of Enerjisa Enerji’s electricity distribution network in the Toroslar region, affected by the 2023 earthquakes.
Vikram Solar secures a 250 MW order from Bondada Group in India
Vikram Solar will supply 250 MW of high-efficiency solar modules to the Bondada Group for a project in Maharashtra, with deployment scheduled to begin in fiscal year 2025–2026.
SolAmerica Secures $100 Million from Deutsche Bank for Solar Projects
SolAmerica Energy secures a $100 million revolving credit facility with Deutsche Bank to support its distributed solar assets in the United States.
$700M Deal Between Diamond and Third Pillar for 500MW Floating Solar in Texas
Diamond Infrastructure Solutions grants Third Pillar Solar exclusive access to its Texas reservoirs to evaluate the potential for 500 MW of floating solar as part of a $700 million investment.
Geronimo Power launches a 125 MW solar project in Michigan
The Jackson County Solar project, valued at 125 megawatts, is expected to generate more than $70 million in direct economic impact for local communities in Michigan.
Empower delivers solar power plant for L’Oréal Egypt and secures regional foothold
Empower New Energy commissions a solar power plant in Egypt for L’Oréal, completing a direct investment structured without debt and strengthening its market entry strategy in the African industrial sector.
Unexpected Tax Relief: U.S. Solar Stocks Rebound on Market
Looser eligibility rules for U.S. solar tax credits triggered an immediate stock surge, easing investor concerns about potential regulatory tightening.
TCL SunPower Global partners with Energia Italia to strengthen its network in Italy
TCL SunPower Global entrusts the distribution of its solar panels to Energia Italia, thereby consolidating its presence in the Italian market within a context of strategic restructuring.
Maxeon Revises Strategy After USD 65 Million Loss in First Half
Weakened by the exclusion of its solar panels from the U.S. market, Maxeon reports a sharp revenue decline and adjusts its financial structure under market pressure.
Shanghai Electric commissions Manah-1 solar plant in Oman with 500 MW
The Manah-1 solar project in Oman, with a capacity of 500 MW, was delivered by Shanghai Electric and has recorded a stable first month of operation, strengthening industrial and technical cooperation with Électricité de France.
Vanda RE negotiates power purchase contracts in Singapore for Indonesian solar project
Vanda RE is in talks with potential buyers in Singapore for electricity from a $3 billion solar and storage project in Indonesia’s Riau Islands.
Rezolv Energy secures 731MW in Romania’s public-backed renewables auction
Rezolv Energy won three contracts for difference totalling 731MW in Romania’s second auction, supported by public financing mechanisms for renewable energy.
Gentari launches 243 MW solar and storage hybrid project in New South Wales
Gentari has started construction at the Maryvale site, a solar project combined with a 409 MWh battery storage system, located in Central-West Orana and backed by a long-term public contract.
OX2 gets green light for 135 MW solar plant on former mining site
OX2 has obtained Australian environmental approval to build a solar and storage project in Muswellbrook, on a former coal site in New South Wales, marking a milestone in its industrial strategy in the region.
IFC grants $600 million loan to ENGIE Energía Perú for energy projects
The International Finance Corporation finances ENGIE Energía Perú to develop solar, wind, and storage projects, with performance indicators targeting efficiency and governance.
Tigo Energy surpasses 200GWh of reclaimed energy through solar optimisation
Tigo Energy exceeds 200GWh of reclaimed energy across more than 130,000 solar installations, with measurable gains for clients such as Pioneer Market in the United States.
Casa dos Ventos orders 1.5 GW of solar trackers from Nextracker in Brazil
Casa dos Ventos has chosen Nextracker to equip four solar and hybrid projects totalling 1.5 GW, marking its first large-scale entry into the solar sector in Brazil.
Melvan secures €4.26mn for three photovoltaic projects in France
Melvan obtains €4.26mn in bank financing to develop three solar power plants totalling 3.9 MWp, with construction scheduled to start in the second half of 2025.

We are making technical adjustments to our item access system.
Temporary display or access problems may occur.
Thank you for your understanding.

Consent Preferences