Victorian Big Battery. Image: Victoria State government.
Neoen saw its energy storage revenues triple in the first half of this year, driven by its Victorian Big Battery in Australia, where the company has established itself as a key market player.
The French renewable energy developer and independent power producer (IPP) published its latest financial results last week. It earned €99.5 million (US$101.38 million) revenue from its solar PV business division, €66.2 million from wind and €39.3 million from energy storage.
But while all three segments saw increases in revenues from the same period in the previous year, with solar PV up 17% and wind up 28%, in energy storage revenues for H1 2022 were 2.9 times higher than in H1 2021, when Neoen earned €13.4 million from the segment.
The increase in energy storage revenue was driven largely by Neoen’s…