Neoen Australia Chief Executive Officer Jean-Christophe Cheylus said the legacy of the Victorian portfolio is one to be proud of and represents a significant contribution to the State’s energy transition.

“We remain deeply grateful for strong support of the Australian Energy Market Operator (AEMO) and the Victorian Government, and we will continue to work diligently over the coming months with HMC Capital, and with our host landowners and project communities, to facilitate a smooth handover,” Cheylus said.

“With renewed focus we now redouble our efforts towards realising our ambition of 10 GW in Australia by 2030.”

Neoen’s Chairman and Chief Executive Officer Xavier Barbaro said the divestment is a necessary step for Neoen to begin a new chapter under Brookfield’s ownership.

“We remain fully committed to Australia, which is our largest country, and we look forward to benefiting from Brookfield’s support as we seek to further accelerate the energy transition in Australia and around the world,” Barbaro said.

HMC Capital’s Energy Transition Platform

HMC Capital Chair of Energy Transition Julia Gillard said the the acquisition is a significant step in HMC’s ambition to be a national champion of Australia’s transition to a net zero carbon economy by 2050.

“This is a marquee acquisition to further seed HMC’s Energy Transition platform, encompassing a diversified range of renewable energy generation and storage assets. We look forward to partnering with some of Australia’s leading institutional investors in creating a clean energy future and fighting against climate change,” Gillard said.

HMC Capital Head of Energy Transition Angela Karl said the acquisition will cement HMC’s Top 10 position in renewable energy and storage in the National Energy Market (NEM) from day one.

“We look forward to working collaboratively with Neoen, our customers, our landowners and other key stakeholders to implement a smooth transition,” Karl said.