FRV Australia secures AUD 1.2 billion refinancing for renewable energy portfolio

Fotowatio Renewable Ventures (FRV) Australia, owned by Saudi Abdul Latif Jameel Energy and Canadian pension fund Omers, announced an AUD 1.2 billion refinancing of its Australian renewable energy portfolio, which includes about 1 GW of operating and under-construction assets. 

The financial transaction involves refinancing its entire portfolio of eight large-scale solar farms. These include the 125 MW Lilyvale and Dalby projects in Queensland, the 106 MW Winton Solar Farm in Victoria, the 69.75 MW Goonumbla, 115 MW Metz, 56 MW Moree, 90 MW Sebastopol, and the 300 MW Walla Walla solar farms in NSW. The new facility also secures construction funding for FRV Australia’s first stand-alone battery energy storage system project. FRV’s development pipeline includes the 100 MW / 200 MWh Terang and the 250 MW / 500 MWh Gnarwarre battery projects in Victoria.