FRV re-finances debt of 100-MW solar park in Queensland

Jul 13, 2022 12:13 PM ET
  • Global sustainable energy developer as well as power manufacturer Fotowatio Renewable Ventures (FRV) stated today that its Aussie system has actually finished a refinancing offer for its 100-MW Lilyvale solar farm in Queensland.
FRV re-finances debt of 100-MW solar park in Queensland
Image: Fotowatio Renewable Ventures (FRV)

Situated in Queensland's Central Highlands area, the solar (PV) park was activated in 2019 as well as is generating about 177,150 MWh of electricity annually. Its annual outcome amounts to the power consumption of as much as 40,000 regional homes. The plant, which inhabits an acreage of over 387 ha (957 acres), runs under a power purchase contract (PPA) with local power retailer Ergon Energy Retail.

Syndicated debt for the refinancing was given by Natixis, Export Development Canada and NordLB. The amount of the financing was not disclosed.

Fotowatio Renewable Ventures Australia is collectively owned by FRV as well as Canadian capitalist as well as asset manager Omers Facilities. The latter agreed to purchase a 49% risk in the Australian company in October 2021.

FRV belongs to Saudi Arabia's Abdul Latif Jameel Energy. In Australia, the business owns near to 800 MW of solar PV ability, both in operation and under construction, representing a consolidated investment of over AUD 1 billion (USD 678m/EUR 671m).

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