Pacific Hydro, FRV get USD-53m CEFC loan for 56-MW solar park
Aug 5, 2013 - Australian Pacific Hydro Ltd said on Friday it had obtained an AUD-60-million (USD 53m/EUR 40m) senior debt financing from the Clean Energy Finance Corp (CEFC) for its 56-MW Aussie solar project with Fotowatio Renewable Ventures (FRV).
The project developers will proceed with work to finalise other commercial issues of the project before reaching financial close, renewable energy company Pacific Hydro said. It noted that continued uncertainty surrounding the future of the federal renewables goal after the upcoming election was hampering the efforts of the project team.
The Moree single-axis solar park, to be installed in Australian's state of New South Wales, received planning consent from the local government in July 2011. According to the developers' calculations, the scheme will generate enough power to supply about 15,000 households and mitigate more than 95,000 tonnes of carbon dioxide (CO2) each year.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.