Renewables developer Fotowatio Renewable Ventures (FRV) Australia has announced the refinancing of its entire solar portfolio of operating and under-construction assets, comprising eight photovoltaic (PV) plants with a total installed capacity of close to 1GW.
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The $1.2 billlion refinancing guarantees the financial support for all the plants as well as a solid backing for future growth and development of new projects. The transaction also secures construction funding for the Terang project, the first utility-scale BESS project of FRV Australia, with a capacity of 100MW capacity in Victoria.
The transaction includes all FRV Australia’s operating and under-construction plants, including Lilyvale, Moree, Sebastopol, Goonumbla, Metz, Winton, Walla Walla and Dalby.
FRV Australia CEO Carlo Frigerio said, “We are thrilled to achieve this significant milestone in our journey This refinancing not only secures the future of our current operations but also provides a strong foundation for our continued growth and commitment to developing renewable energy projects across Australia.”
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The refinancing process involved eleven financial institutions, including ING Bank, Westpac Banking Corporation, MUFG Bank, Société Générale, Norddeutsche Landesbank, Mizuho Bank, Intesa Sanpaolo, United Overseas Bank, the Clean Energy Finance Corporation, China Construction Bank and Agricultural Bank of China.
