Fotowatio Renewable Ventures Australia (FRV Australia) has reached financial close on the 300 MWac Walla Walla solar project in New South Wales (NSW). FRV Australia has financing from ING, Clean Energy Finance Corporation, and Export Development Canada. FRV Australia is owned by Abdul Latif Jameel Energy and Canadian pension fund OMERS.
According to the Green Loan Principles of the Loan Market Association, the financial institutions provided the finance in the form of a green loan. The solar facility, which is situated in NSW’s Riverina region, will be connected to the national energy grid once it starts operating. According to FRV Australia, the project might create up to 250 construction jobs, and it also has plans to bring on three to four permanent operational staff. It also intends to site maintenance contracts to local businesses. For constructing the solar facility, FRV Australia awarded a contract to Gransolar in a joint venture with CHINT Solar.
Earlier this month, Squadron Energy announced that it has acquired CWP Renewables (CWP) for an undisclosed fee. With more than 1.1 GW of operational wind assets, CWP is a corporation that specialises in wind, solar, and battery farms. The Sapphire Wind Farm in New South Wales is one of its asset holdings; it has 75 turbines and the ability to generate up to 270 MW of clean energy. The energy company also owns the Crudine Ridge wind farm, which has a 142 MW capacity, and the Murra Warra I and II projects, which have an installed total of 435 MW.