FRV Australia completes refinancing of Moree Solar Farm

Fotowatio Renewable Ventures Australia, as part of Abdul Latif Jameel Energy and Canadian infrastructure fund Omers, has completed the refinancing of the 70 MWdc Moree Solar Farm in regional New South Wales with Societe Generale as sole MLA and hedging provider.

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    FRV said the Moree Solar Farm has been generating clean energy since 2016, contributing towards the energy demand and economic development of the local area, while helping to drive Australia’s transition to green energy.

    The plant is located 10 kolometres south of Moree and spans more than 300 hectares with net annual energy production capacity of approximately 149,000 MWh, with an output of 70 MWdc, capable of meeting the energy demand of up to 26,000 households while also avoiding emissions of 102,326 tons of CO2 annually.

    Forming an important part of FRV Australia’s clean energy portfolio, the plant will further drive FRV Australia’s mission to support the country’s clean energy mandate. The company has developed and built almost 800 MWdc of Australian PV assets built or under construction across nine projects for a total project investment value of over $1 billion dollars.

    “It’s a great milestone to achieve refinancing of the Moree Solar Farm and watch how one of our first projects in this country continues to grow and supply green, sustainable and renewable energy in order to reach the Australian net zero emission transition,” FRV Australia Managing Director Carlo Frigerio said. “Special thanks to our lenders and partners in FRV Australia.”
    Moree Solar Farm was the second project completed by FRV Australia and the first one in NSW. In 2022 FRV Australia has inaugurated two PV plants in NSW; Sebastopol with an output of 90 MW and Metz with 115 MW.
    “Solar continues to be a key driver in Australia’s green transition and its future potential to dominate the energy mix is huge,” Abdul Latif Jameel Deputy President and Vice Chairman Fady Jameel said. “This package will ensure that the farm continues to provide clean energy to tens of thousands of citizens for many years to come. Projects such as this serve as a powerful reminder of how we can support local communities towards a cleaner future for all.”

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