HMC Capital (ASX:HMC) agreed to acquire Neoen's Victorian renewable generation and storage portfolio, including four operational assets and six development assets, for AU$950 million, according to a Thursday filing with the Australian bourse.

Of the total acquisition price, AU$750 million is due on the financial close in July 2025, and the remaining AU$200 million is payable in December 2025, the filing said.

The company secured a AU$550 million senior debt asset-level facility from domestic and global banking syndicates to support the acquisition, according to the filing.

Shares rose more than 1% in morning trade Thursday.

Price (AUD): $12.33, Change: $+0.14, Percent Change: +1.15%