FRV’s 20mw Royalla solar farm achieves financial close

FRV has announced that its Royalla Solar Farm project, south of Canberra, achieved Financial Close on 30 August 2013.
The project is being financed using both equity and a syndicated non-recourse project finance agreement with ANZ and National Australia Bank.
The solar farm will create approximately 100 jobs during construction and when completed, generate enough electricity to power about 4500 Canberra homes. At the time of completion, Royalla will be one of the largest solar projects under operation in Australia.
Andrew Thomson, Managing Director of AEO said: “ACCIONA is one of the world’s leading renewable energy companies and is delighted to be partnering with FRV and providing engineering, construction and operational services on the Royalla Solar Farm project, a project that will deliver clean, renewable energy to the Canberra region.”