Banks back 20MW of Aussie PV

ANZ is one of the backers of the PV plant in ACT

ANZ is one of the backers of the PV plant in ACT

Fotowatio Renewable Ventures (FRV) has reached financial close on its 20MW Royalla solar project in Australia, with construction to kick off next month.

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 Log in to read complete article.

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