FRV achieves fin close on 300-MW Aussie solar project contracted by Microsoft
- Fotowatio Renewable Ventures Australia, co-owned by Spain-based Fotowatio Renewable Ventures (FRV) and also Canada's Omers Infrastructure, introduced today it has gotten to monetary closing on the 300-MWp Walla solar project in New South Wales, Australia.
The project, which is FRV's 10th solar (PV) scheme in Australia, will broaden the Spanish team's total portfolio to more than 1 GW.
To be mounted 40 km (25 miles) north of the city of Albury, on the boundary with the state of Victoria, the solar farm will make up around 700,000 PV panels mounted across a 605-ha (1,500-acre) website. The panels will be mounted on single-axis trackers. Once in operation, the plant will certainly be capable of creating electricity for about 90,000 regional homes.
Funding, in the form of a green loan, was expanded by NG Bank, the Clean Energy Finance Corporation as well as Export Development Canada. With all required funds secured, building works are due to start in the first quarter of 2023, with the solar farm set up to browse the web in the shutting quarter of the list below year. The project has in area a 15-year power purchase agreement (PPA) with Microsoft and will be providing power to its data centres in Australia.
A joint venture of Gransolar and also Chint Solar will certainly act as the engineering, procurement and building (EPC) contractor.
FRV becomes part of Saudi Arabia's Abdul Latif Jameel Energy. The company's Aussie unit obtained a planning license for Walla in 2020.
