FRV refinances 56-MW solar park in New South Wales

Spain-based Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy, today said it has completed a refinancing deal for its 56-MW /70-MWp Moree solar park in New South Wales.

French lender Societe Generale was the sole mandated lead arranger and hedging provider in the transaction.

Located 10 kilometres (6.2 miles) south of Moree, the solar farm has been generating electricity since 2016. The plant covers an area of over 300 hectares. Its annual output of around 149,000 MWh is enough to cover the power consumption of up to 26,000 homes.

The Moree photovoltaic (PV) park is part of Fotowatio Renewable Ventures Australia’s portfolio, which FRV owns together with Omers Infrastructure. The Canadian investor and asset manager agreed to buy a 49% stake in FRV’s Aussie unit at the end of last year.

Currently, Fotowatio Renewable Ventures Australia has 800 MW DC of assets in operation or under construction. The company’s operational plants in New South Wales include the 90-MW Sebastopol and 115-MW Metz solar parks, which were brought online in March and September, respectively.

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