Crystal Brook Energy Park (CBEP)

Neoen Australia is developing a large-scale hybrid renewable energy project in the Mid North Region. The project will consist of more than 300MW of wind, solar and battery storage—which when combined will be capable of supplying electricity consumers with 100% reliable renewable energy contracts at a fixed low-cost price.

It is anticipated construction could commence in mid-2021 for completion in 2023.

Investment opportunity

Neoen is seeking partnerships with large electricity users, or a consortium of electricity users, in South Australia who are interested in contracting for a long-term electricity off-take agreement at a fixed rate below current wholesale forecast rates.

Neoen is able to provide competitive contracts to customers with fixed (‘flat’ or ‘load following’) or flexible energy demand profiles.

This may include parties interested in producing hydrogen or related products, as well as other commercial and industrial users. Customers may be located anywhere within the South Australian electricity grid.

Financial information

Investment sought: Not applicable

Project highlights

• By combining SA’s world-class wind and solar resources, CBEP has been designed from the ground up to be the first renewable project in Australia capable of selling fully firmed (or load-following) swaps (also known as ‘hedges’) in the electricity market. Until now, these hedging contracts (which are essential for industrial customers with large loads) have been provided exclusively by gas generators with associated higher costs, long-term price uncertainty, environmental impacts and emissions.
• The power produced by the project is competitive with current retail offers and over the long-term is expected to significantly outperform the wholesale market.
• The project will provide significant benefits to the local community through direct employment and capital investment. An independent review by Aurecon estimates the project will employ 244 full-time equivalent employees from the Yorke and Mid-North Region and 487 full-time equivalent employees more broadly from across the State; of these employees, 66 are expected to be apprentices and trainees. The operation of CBEP is expected to require the direct and indirect employment of 43 full-time equivalent staff from the Yorke and Mid-North Region and 48 full-time equivalent staff more broadly from across the State.

Key organisations

• Neoen Australia Pty Ltd

Project timelines

Expected start date
July 01, 2023

Expected end date
-

Funding round finish date
-

Location

View on AgInsight interactive information and mapping portal

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