The deal – backed by ANZ and National Australia Bank – represents the first time a utility-scale solar project has received project financing in Australia.
EPC work will be carried out by Acciona’s local subsidiary, with completion slated for mid-2014 – at which time Royalla will become one of the largest solar projects in the country.
Australian Capital Territory (ACT) – which contains the capital of Canberra, and is the country’s smallest state – has set out to allocate capacity for utility-scale PV capacity via reverse auctions, offering up 20MW at a time.
FRV, an Amsterdam-based solar developer whose primary focus in the past has been Spain, won the entire 20MW in the first bidding round.
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