Brookfield-Owned Neoen commits A$7B to Australia as renewable energy race intensifies
Neoen will invest about A$7 billion to double its Australian renewable energy portfolio by 2030. The Brookfield-owned developer plans to expand solar, wind and battery storage projects in its largest global market, as Australia continues to increase renewable electricity generation and energy storage capacity.
Australia has become the cornerstone of Neoen's next growth phase, as the Brookfield-owned renewable energy developer is set to deploy roughly $A7B to more than double its local capacity by 2030.
The company expects to more than double its local renewable energy capacity to 10GW from around 5GW by 2030, a mix of new solar, wind and battery storage projects, with the country having become Neoen's largest global market and the place where companies, utilities and governments are spending the most money on new electricity generation and storage assets.
Largest Market for Neoen
The renewable energy developer has already spent $A7B on Australian projects and the company has developed more than 5GW of renewable energy capacity in the country, which houses some of the largest solar, wind and battery storage projects in Australia.
The move to increase its investment further follows Brookfield's purchase of Neoen last year, placing one of the world's largest infrastructure managers behind the developer's plans.
Australia is taking an increasingly large role in Neoen's global operations, beating its other global markets of France, Finland, Sweden, Portugal, Ireland, Canada and several Latin American countries where the company is developing renewable energy assets.
High Demand for Storage
This news follows Australia's push to boost its generation of renewable energy, as well as its capacity for battery storage to firm up the grid. Renewable energy provided 42.7% of Australia's power in 2025, up from 39.4% in 2024, according to the latest Clean Energy Australia report, released by the Clean Energy Council this morning.
Investments in utility-scale battery storage have also reached record levels in the year, as the nation’s electricity network adjusts to its increasing amount of variable renewable energy generation.
For businesses and investors, battery storage remains of interest for business and project developers as electricity generated from solar and wind farms can be stored until peak demand increases.
A New Capacity Pipeline Emerges
Neoen this morning launched the operation of its 350-megawatt Culcairn Solar Farm in New South Wales, its second largest solar farm in the world.
In the next seven years Neoen expects its A$7B investment to result in the development of further solar, wind and battery storage projects across the country as the nation's renewable energy capacity pipeline and investment potential continue to rise.
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