Neoen and CleanCo Queensland Sign Landmark PPA for Australia's Largest Solar Farm, at 352 MWp

•Neoen and CleanCo have signed a 352MWppower purchase agreement, one of Australia’s most substantial renewable energy agreements to date

•The Western Downs Green Power Hub will generate 1080GWh of affordable clean energy each year,complementing CleanCo Queensland’s hydro generation

•Between 460 and480 MWp in total size,Western Downs will become the largest solar farm in Australia,bringing significant regional economic benefits to South West Queensland

•With this move into Queensland, Neoen confirms its status as Australia’s leading independent producer of renewable energy

PVTIME - Neoen (ISIN: FR0011675362, Ticker: NEOEN), one of the world’s leading and fastest-growing producers of exclusively renewable energy, has signed a 352MWppower purchase agreement with CleanCo Queensland in one of Australia's most substantial renewable energy agreements to date.

The contract will enable Neoen to build Australia's largest solar farm, the 460 to 480MWp Western Downs Green Power Hub near Chinchilla in south east Queensland, delivering clean energy into Powerlink Queensland's transmission network.

This is CleanCo Queensland’s second renewable energy
offtake agreement since its establishment inDecember2018, and it will
contribute over 30% of the energy required for CleanCo Queensland to meet its
target of 1 GW of new renewable generation by 2025.

Louis de Sambucy, Neoen Australia’s Managing Director said: “We are excited to work in partnership with CleanCo with
whom we share the same long-term vision. The electricity produced by Western
Downs solar farm will complement CleanCo’s hydro energy production and it will
be our first project in Queensland. We are fully committed to delivering this
landmark deal by making the most of the region’s excellent solar resources, the
use of the latest technology and our experience in delivering solar farms on
time and on budget. We look forward to Western Downs becoming a lighthouse
project in achieving excellent regional economic and local community outcomes
that will be needed in the aftermath ofCovid-19’simpact on the economy. This
will also help the Queensland government work towards its ambitious target of
50% renewable energy by 2030.”

As Queensland’s publicly owned clean energy company,
CleanCo Queensland is focused on activities that help to improve electricity
affordability, contribute to achieving Queensland’s 50% renewable energy target
by 2030 and create new investment and jobs in regional Queensland.

Western Downs Green Power Hub will be a major
contributor to those objectives. It will generate energy to power 235,000
Queensland homes, or enough to power every home on the Sunshine Coast.

Maia Schweizer, CleanCo Queensland’s inaugural CEO said: “This an exciting initiative which is delivering a
better future for Queensland. We’re delivering affordable, secure and clean
energy, which is powering new jobs right across our state.”

Powerlink Queensland Interim Chief Executive, Kevin
, said the Western Downs Green
Power Hub is extremely well positioned to connect to the national grid via
Powerlink’s transmission network: “This project will bring Queensland to 2000MW
of large-scale renewable generation connected to the transmission network in
the state.”

The A$570 million investment
by Neoen is expected to create up to 400 jobs for the local and South West
Queensland area when construction begins in July 2020. Connection will be via
the Western Downs substations via a new overhead line, with energy generation
scheduled to start in the first quarter of 2022.

As per its strategy, Neoen also
will be the long-term owner and operator of the project, sharing the ongoing
benefits of this development with the local community. The establishment of a
Community Benefit Fund will provide opportunities for local community-building
initiatives totalingA$100,000 every year for the lifetime of the project. Neoen
is also working closely with the Traditional Owners, the Barunggam, to go well
beyond current best practice for Indigenous participation, targeting10% of the
project’s economic benefits, including employment, training and supply chain

Xavier Barbaro, Neoen’s Chairman and Chief Executive
Officer said
: “We would
like to thank CleanCo Queensland for putting its trust in us. The signing of
this first power purchase agreement for a Queensland project fully illustrates
our willingness to extend our leadership in Australia, our first country in
terms of capacity installed. As one of the world’s leading and fastest-growing
independent renewable energy producer, we are committed to delivering
affordable, reliable and clean energy to communities through our wind, solar
and storage projects, in Australia and in all our geographies.”