Neoen Australia’s divestment of its VIC renewables portfolio to HMC Capital (ASX: HMC)

Neoen, Australia’s leading producer of exclusively renewable energy, engaged BDO’s deal advisory team to support the divestment process of its Victorian renewable energy portfolio to HMC Capital Limited (ASX: HMC). This transaction was essential to finalise the acquisition process of Neoen by Brookfield, the world’s largest investors in renewables, under the regulatory approvals mandated by the Australian Competition and Consumer Commission.

The BDO team played a critical role in planning and delivering the separation requirements leading up to deal completion, while also defining the services outlined in the Transitional Services Agreement (TSA) to be provided to HMC Capital post-Day 1. Our work included functional blueprinting to align with the Day 1 operating model, enhancing joint delivery arrangements to ensure Day 1 readiness, and managing the cutover to operationally divest the assets to ensure a smooth transition on Day 1.

We are proud to have been retained in a post-completion capacity, where we continue to support operational stabilisation and the delivery of transitional services.