SmartestEnergy Secures 50% of Neoen’s Australian Solar Farm

In a significant move bolstering Australia’s renewable energy sector, independent retailer SmartestEnergy has entered into a landmark Power Purchase Agreement (PPA) with French energy leader Neoen. The four-year deal, signed on September 12, 2024, secures half of the electricity generated by the formidable 440 MWp (350 MW AC) Culcairn Solar Farm in New South Wales.

Currently under construction in the Riverina region on Wiradjuri country, the Culcairn project is on track for commissioning in 2026. Upon completion, it will become Neoen’s second-largest solar asset worldwide, trailing only the 460 MWp Western Downs facility in Queensland. This new solar farm is poised to make a substantial impact, generating enough clean energy to power approximately 160,000 homes—more than double the number of households in the surrounding region.

This agreement is a strategic win for both parties. For SmartestEnergy, it reinforces its commitment to supplying clean energy solutions to businesses across the National Energy Market (NEM). Robert Owens, CEO of SmartestEnergy Australia, stated, “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.”

For Neoen, the PPA is a critical step in a year of major expansion, increasing its Australian portfolio by 25% to 3.75 GW of capacity either in operation or under construction. “We are delighted to sign our first PPA with SmartestEnergy, and we sincerely thank them for placing their trust in us,” commented Jean-Christophe Cheylus, Neoen’s CEO. The project helps cement Neoen’s ambitious goal of reaching 10 GW of capacity in Australia by 2030.

The project’s financial viability is further supported by a Long-Term Energy Services Agreement (LTESA) awarded under the NSW Government’s Electricity Infrastructure Roadmap. This mechanism provides price stability and de-risks the investment, aligning with the state’s goal of achieving net-zero emissions by 2050. The Culcairn project is also part of a wider A$1.4 billion debt financing package secured by Neoen to fund 1.3 GW of new renewable projects.

Beyond its clean energy output, the development will serve as a significant economic driver for the region, creating over 400 jobs during construction and seven permanent operational roles. Demonstrating a long-term commitment to the community, Neoen has pledged an AUD 10 million benefit-sharing program over the project’s lifespan. This initiative includes an annual fund for local projects and the integration of agrisolar practices, such as allowing sheep to graze on the site.

Sources

1. SmartestEnergy and Neoen partner for Culcairn Solar Farm
2. What is Customer Demographics and Target Market of Neoen?
3. [PDF] 9M 2024 revenue and operational data – Neoen
4. [DOC] PR_Neoen_-revenue-9M-2024-VF-1.docx
5. [PDF] Other Information (BP)(07.02.2025) – Neoen
6. Neoen lands $890m loan for additional 1.3 GW of renewables in …
7. The Dispatch – October 2024 – KWM
8. Neoen lands $1.4 billion debt finance for an additional 1.3 GW of …
9. SmartestEnergy Australia pens PPA for 440MW solar PV in NSW
10. Neoen powers up 350 MW Culcairn solar farm in New South Wales