LIF points to refinancing decision as investor appetite ‘grows’ – pv magazine Australia


The Australian arm of global renewable energy developer Fotowatio Renewable Ventures has highlighted the refinancing of its 100MW Lilyvale solar farm in Queensland as a sign of renewed investor confidence in the country’s renewable energy sector.

Australia’s Fotowatio Renewable Ventures (FRV) platform, owned by UAE-based Abdul Latif Jameel Energy and Canadian fund manager Omers Infrastructure, says “enthusiastic” backing from global financial heavyweights has enabled it to to complete the refinancing of its Lilyvale project in the Central Highlands of Queensland. .

FRV Australia, which has established itself as one of Australia’s biggest solar developers since joining in 2010, said the refinancing plan was led by French investment and investment bank Natixis. The Canadian public credit agency Export Development Canada (EDC) and NordLB, one of Germany’s largest commercial banks, also participated in the refinancing maneuver.

Christopher Curtain, senior managing director of Asia-Pacific operations at Omers, which acquired a 49% stake in FRV Australian last year, said strong support for the refinancing program reflected growing investor interest. for Australia’s renewable energy sector and heralded a bright future for the industry.

“As a long-term investor, we are pleased to see the enthusiastic interest of the broader market in this specific refinancing opportunity,” he said. “This sentiment speaks to lenders’ growing appetite for opportunities to support high-quality renewable assets, which bodes well for Australia’s green energy transition.”

The Lilyvale Solar Farm has been delivering electricity to the grid since 2019. Located approximately 50 kilometers northeast of Emerald in central Queensland, the facility has a net annual energy generation capacity of approximately 277,150 MWh, capable of meeting the energy demand of up to 45,000 households. while avoiding the emission of 218,900 tonnes of carbon per year.

FRV Australia chief executive Carlo Frigerio said the refinancing program would ensure the asset continues to contribute to energy demand and economic development in the region, while helping Australia’s transition to the green energy.

FRV’s portfolio includes the Sebastopol solar park currently in production.

Image: Beon

The Lilyvale project was FRV Australia’s third solar farm and the first in Queensland. It is underpinned by a long-term power purchase agreement (PPA) with Queensland utility Ergon Energy.

Frigerio said Lilyvale’s solar farm is an important part of FRV Australia’s clean energy portfolio, which includes more than 800MW of large-scale solar PV projects already operational or under construction.

FRV’s Australian portfolio includes the 125 MW Clare Solar Park in North Queensland and the 106 MW Winton Solar Park in Victoria. It also includes the 69.75MW Goonumbla, 56MW Moree and 300MW Walla Walla solar parks, all located in New South Wales (NSW). It has also started work on a 5 MW solar storage hybrid power station near Dalby, South Queensland. The Dalby Hybrid Power Station will feature 2.4MW of solar PV capacity and a 2.5MW/5MWh battery, making it FRV’s first battery energy storage system in Australia.

The company also owns the 115MW Metz and 90MW Sevastopol solar parks, which earlier this year began sending power to the NSW grid.

Fady Jameel, vice president and vice president of Abdul Latif Jameel Energy, said the company remains committed to leading the way to a carbon-free world and that solar PV is a key part of its strategy.

“Solar farms remain one of the most effective ways to increase sustainable energy production,” he said. “By supporting the Lilyvale Solar Farm, we further reinforce our deep commitment to Australia’s transition to green energy.”

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