Neoen S.A. (ENXTPA:NEOEN) is considering selling a 30% stake in its Australian unit to raise more than ?1 billion ($1.1 billion) to fund its growth in the country, according to people familiar with the matter. The sale would be part of Neoen?s plan to expand in Australia and elsewhere beyond 2025 without having to resort to a new share sale by the Paris-based parent company, said the people, who asked not to be named because the information is private. Neoen is working with a financial adviser on the potential sale, which might take place in the second half of the year, though no final decision has been made, one of the people said.

A representative for Neoen declined to comment on the potential transaction.