FRV reaches fin close on 115-MW Australian solar project
December 28 (Renewables Now) : Spain-based Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy, has reached financial close on the 115-MW Metz Solar Farm project it plans to realise in the Australian state of New South Wales.
FRV secured a green loan from Australia’s Westpac Banking Corp (ASX:WBC) and German commercial lender Norddeutsche Landesbank (NORD/LB). This is the second green loan that FRV secured in the country, it said in a statement today.
FRV, which closed the acquisition of the Metz project in November 2020, will build the solar farm in the New England region. The project has a power purchase agreement (PPA) in place signed in 2018 with Australiam power producer and retailer Snowy Hydro.
Once operational, Metz Solar should be able to produce enough clean energy to supply up to 40,000 local homes as well as avoid the annual emission of some 288,000 tonnes of carbon dioxide (CO2).
With the new project, which will become FRV’s eight solar farm in the country, the firm’s local solar portfolio reaches 650 MW in total, FRV noted.
Source : renewablesnow
