FRV - Fotowatio Renewable Ventures announces financial closing for 70 MW PV Solar Plant in Australia and 65 MW PV Solar Plant in Uruguay
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Fotowatio Renewable Ventures (FRV, Madrid, Spain), announced that the 70 megawatt (MWp) Moree Solar Farm, the first large-scale solar photovoltaic (PV) project tracking the sun in Australia, has reached financial close. Construction of the project will begin immediately, FRV notes.

Moree will be one of the largest PV plants in Australia and will use mechanical devices (solar trackers) to continually orient its solar panels with the sun to increase their power output each day. Once completed it will produce enough electricity to power the equivalent of nearly 15,000 New South Wales homes, FRV emphasizes.

“This is a significant and exciting moment for large scale solar in Australia and for the Moree community,” said Andrea Fontana, FRV Australian Country Manager.

“The project would not be possible without the unwavering support of the local community, Moree Plains Shire Council, the Federal Members for Parkes, NSW state government, all the people who have dedicated many hours to development of the project and last but not least, the Australian Renewable Energy Agency (ARENA) and the Clean Energy Finance Corporation (CEFC) who have provided funding for the project. Thank you all for your passion and support for this project,” continued Fontana.

At the same time, FRV announced financial closing for 65 MV PV Plant in Uruguay, named Jacinta.

Jacinta marks the first solar power purchase agreement signed with Uruguay’s state-owned company UTE (Administración Nacional de Usinas y Trasmisiones Eléctricas) and is the first FRV project to reach financial close in the region. Once completed, the facility will be one of the largest solar projects in Latin America. It will generate enough electricity to supply approximately 35,000 homes in the area and remove 74,142 MT of CO2 emissions per year.