Fotowatio Renewable Ventures Australia, co-owned by Spain-based Fotowatio Renewable Ventures (FRV) and Canada’s Omers Infrastructure, announced today it has reached financial closing on the 300-MWp Walla Walla solar project in New South Wales, Australia.
The project, which is FRV’s 10th photovoltaic (PV) scheme in Australia, will expand the Spanish group’s total portfolio to more than 1 GW.
To be installed 40 km (25 miles) north of the city of Albury, on the border with the state of Victoria, the solar farm will comprise around 700,000 PV panels installed across a 605-ha (1,500-acre) site. The panels will be mounted on single-axis trackers. Once in operation, the plant will be capable of producing electricity for roughly 90,000 local homes.
Funding, in the form of a green loan, was extended by NG Bank, the Clean Energy Finance Corporation and Export Development Canada. With all needed funds secured, construction works are due to begin in the first quarter of 2023, with the solar farm scheduled to go online in the closing quarter of the following year. The project has in place a 15-year power purchase agreement (PPA) with Microsoft and will be supplying power to its data centres in Australia.
A joint venture of Gransolar and Chint Solar will act as the engineering, procurement and construction (EPC) contractor.
FRV is part of Saudi Arabia’s Abdul Latif Jameel Energy. The company's Aussie unit obtained a planning permit for Walla Walla in 2020.
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