FRV Australia reaches financial close on 300MW solar plant in New South Wales

Facebook
Twitter
LinkedIn
Reddit
Email
Construction of the 300MW solar farm will be carried out by a joint venture (JV) formed by Spanish EPC Gransolar and developer CHINT Solar. Image: FRV.

Solar developer Fotowatio Renewable Ventures (FRV) Australia has secured financial close on a 300MW solar farm in New South Wales, Australia.

Funding is provided in the form of a green loan by bank firm ING, the Australian government’s Clean Energy Finance Corporation (CEFC) and the Export Development Canada.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Although FRV Australia has not disclosed the amount of the financial close, CEFC announced it has committed A$100 million (US$66.7 million) to the Walla Walla solar farm and raised its total renewable energy projects commitments to A$3.03 billion for 5.1GW of solar and wind capacity.

This marks the largest solar farm to be project financed by the CEFC and its third large-scale renewable energy investment in the past two months, which included A$75 million to accelerate renewables developer ACEN Australia’s 8GW portfolio in Australia.

Carlo Frigerio, managing director at FRV Australia, said: “With the support of all parties involved, we were able to navigate the procurement challenges that affected our industry during the past year, and we are now ready to deliver another high-quality project that will be added to our portfolio, which now reaches 1GW in Australia.”

Construction will be carried out by a joint venture (JV) formed by Spanish EPC Gransolar and developer CHINT Solar, while a 15-year power purchase agreement (PPA) was secured last year with tech giant Microsoft, which will use the solar farm to power its data centres in Australia.

Moreover, this is the fifth solar farm developed by FRV Australia in New South Wales and the tenth in Australia with a total capacity over 1GW.

Read Next

February 13, 2025
Australia’s Clean Energy Council said 2024 was the best year for renewable energy investment since 2018, with AU$9 billion committed.
February 11, 2025
US technology giant Microsoft has signed virtual power purchase agreements (VPPAs) for 389MW of solar capacity with EDP Renewables.
February 11, 2025
A round-up of last week's news from China, including UtmoLight, the Mingyang Smart Energy Group and Leapting.
February 11, 2025
AEMO has said that, at the end of 2024, the connections pipeline for Australia's NEM stood at 49.6GW, up 36% year-on-year.
February 10, 2025
South Australia-based solar PV developer Green Gold Energy has received consent from the South Australian government for a 200MW solar-plus-storage site.
February 6, 2025
Samsung C&T Renewable Energy Australia has submitted a 250MW solar-plus-BESS site in New South Wales to the Australian government’s EPBC Act.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 17, 2025
London, UK
Solar Media Events
February 19, 2025
Tokyo, Japan
Solar Media Events
March 11, 2025
Frankfurt, Germany