Neoen plans to have 20GW of renewable energy assets in operation or under construction by 2030.
The company said that it also aims to reach over 10GW of assets in operation or under construction by year-end 2025.
This means that the company will need to add at least 2GW of new projects per year from 2025.
Neoen had 6.6GW of assets in operation or under construction at year-end 2022.
To help reach this goal, the company will increase its investment across 2021-2025 from the originally €5.3bn euros to €6.2bn.
In addition, the Neoen said that its adjusted EBITDA for 2023 is expected to be €460m and €490m, compared to €414m in 2022. The company also aims to hit an adjusted EBITDA of over €600m in 2025.
Xavier Barbaro, Neoen’s Chairman and CEO, commented: “Neoen announced ambitious targets in 2021. Since then, we have demonstrated our ability to execute our strategic roadmap and have displayed strong operational and financial discipline.
“We have delivered balanced growth across our technologies, geographies and customer segments. We have also been able to capitalise on our storage assets and our energy management expertise to successfully develop innovative yet competitive projects that accentuate Neoen’s differentiation.
“These achievements over the past two years make us particularly confident of reaching our 2025 targets and allow us to look beyond positively.”