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Neoen SA ( (FR:NEOEN) ) has provided an update.
Neoen has initiated the construction of the Arneburg Battery, its first energy storage asset in Germany, marking a significant step in its expansion strategy within the country. With a capacity of 45 MW / 90 MWh, the battery is expected to be operational by 2026, providing critical support to Germany’s electric grid by enhancing stability and facilitating the integration of renewable energy. This project aligns with Neoen’s ambition to become a key player in Germany’s battery sector, leveraging its expertise in large-scale battery projects to support the nation’s energy transition efforts. The Arneburg Battery is part of Neoen’s broader growth strategy, which includes a robust pipeline of projects exceeding 1 GW in Germany and a global storage portfolio of 2.3 GW / 5.3 GWh.
More about Neoen SA
Neoen, founded in 2008, is a leading independent producer of exclusively renewable energy, with expertise in solar power, wind power, and storage. The company is actively involved in the energy transition by producing competitive, green, local energy across four continents, aiming to achieve a capacity of 10 GW in operation or under construction by 2025. Neoen is listed on Euronext Paris and is known for its large-scale storage plants and significant renewable energy projects.
YTD Price Performance: -0.10%
Average Trading Volume: 217
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €6.07B
See more insights into NEOEN stock on TipRanks’ Stock Analysis page.
