{"id":75350,"date":"2022-12-21T02:00:05","date_gmt":"2022-12-21T02:00:05","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2022\/12\/21\/abdul-latif-jameel-energys-frv-reaches-financial-close-on-10th-australian-renewables-project\/"},"modified":"2022-12-21T02:00:05","modified_gmt":"2022-12-21T02:00:05","slug":"abdul-latif-jameel-energys-frv-reaches-financial-close-on-10th-australian-renewables-project","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2022\/12\/21\/abdul-latif-jameel-energys-frv-reaches-financial-close-on-10th-australian-renewables-project\/","title":{"rendered":"Abdul Latif Jameel Energy\u2019s FRV reaches financial close on 10th Australian renewables project"},"content":{"rendered":"

<\/a> FRV reaches financial close on Australian solar farm: <\/strong>Fotowatio Renewable Ventures Australia (FRV<\/a>) \u2014 a subsidiary of KSA\u2019s Abdul Latif Jameel Energy and Environmental Services<\/a> \u2014 reached financial close on its 300 MWac Walla Walla solar farm<\/a> in New South Wales after securing a green loan, according to a press release<\/a>. The unspecified amount was secured from ING Group<\/a>, the Clean Energy Finance Corporation<\/a> and Export Development Canada<\/a>.<\/p>\n

And some of that energy is going to Microsoft: <\/strong>FRV signed a 15-year power purchase agreement (PPA) to provide energy from the farm to Microsoft last year to fully power its Australian data centers with renewable energy by 2025, the statement notes. The agreement was \u201cinstrumental\u201d in helping FRV secure funding for the project.<\/p>\n

What do we know about the solar farm?<\/strong> FRV has tapped Spanish solar energy company Gransolar<\/a> and Chinese smart energy solutions provider Chint Solar<\/a> to construct the project in a joint venture, which will later be connected to the grid. Walla Walla is FRV\u2019s fifth project in New South Wales and its 10th project in Australia, bringing the total capacity of the 10 projects to over 1 GW.<\/p>\n

FRV has been very active this quarter: <\/strong>FRV announced<\/a> that its Metz Solar Farm<\/a> \u2014 also in Australia\u2019s New South Wales \u2014 was running at full capacity with an output of 115 MW in September. Later that month, it announced financial close on a EUR 81 mn (USD 86.2 mn), 123 MWp PV plant in Spain. In October, FRV invested<\/a> USD 10 mn in German solar-as-a-service provider Ecoligo<\/a> to expand the company\u2019s portfolio of commercial and industrial customers. It also acquired<\/a> two battery storage projects in the UK with a combined capacity of up to 100 MW for an undisclosed sum. FRV also acquired<\/a> a majority stake in Greek battery energy storage company Wootis SA\u2019s 600 MW battery energy storage system (BESS) project last month.<\/p>\n","protected":false},"excerpt":{"rendered":"

FRV reaches financial close on Australian solar farm: Fotowatio Renewable Ventures Australia (FRV) \u2014 a subsidiary of KSA\u2019s Abdul Latif Jameel Energy and Environmental Services \u2014 reached financial close on its 300 MWac Walla Walla solar farm in New South Wales after securing a green loan, according to a press release. The unspecified amount was […]<\/p>\n","protected":false},"author":1,"featured_media":75351,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1400],"tags":[515,327,11,88,159,42],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-75350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar-energy","tag-abdul-latif-jameel","tag-australia","tag-enterpriseclimate","tag-renewables","tag-saudi-arabia","tag-solar-energy","wpautop","entry"],"acf":{"mongo_id":"330dca5f-33ed-46ba-a53d-044323254e4d","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/9\/3655.jpg","photo_position":"above","related_issue":[75345],"teaser":"","voice_url":""},"yoast_head":"\nAbdul Latif Jameel Energy\u2019s FRV reaches financial close on 10th Australian renewables project - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2022\/12\/21\/abdul-latif-jameel-energys-frv-reaches-financial-close-on-10th-australian-renewables-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Abdul Latif Jameel Energy\u2019s FRV reaches financial close on 10th Australian renewables project\" \/>\n<meta property=\"og:description\" content=\"FRV reaches financial close on Australian solar farm: Fotowatio Renewable Ventures Australia (FRV) \u2014 a subsidiary of KSA\u2019s Abdul Latif Jameel Energy and Environmental Services \u2014 reached financial close on its 300 MWac Walla Walla solar farm in New South Wales after securing a green loan, according to a press release. 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