FRV’s »Lilyvale« commenced commercial operation
Post date: 11/04/2019 - 16:52
Developer of renewable utility-scale projects Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy, has announced that its 100 MWac »Lilyvale« solar plant in Queensland, Australia, is now up and running. The project, started producing its first kilowatt hour in March and is expected »to reach full capacity during the coming months« after completion of the Australian Energy Market Operator’s (AEMO) testing phase.
FRV signed a PPA with Ergon Energy Retail for the full plant capacity in January 2017. The project was financed in September 2017 with a group of banks comprising the Banking Group of Australia and New Zealand (ANZ), the Bank of Tokyo and Mitsubishi UFJ, Ltd (MUFG) and Sumitomo Mitsui Banking Corporation (SMBC).
According to Fady Jameel, Deputy President and Vice Chairman of Abdul Latif Jameel, the company has committed to significantly expanding FRV’s international operations, with plans to invest $900 million in 2019 alone, and the goal of »increasing the total installed capacity of our projects around the world over eight-fold in the next five years, from 0.7 GW at the beginning of 2019 to 5.8 GW by 2024.«
FRV has developed a total of six solar operating or committed projects in Australia with an accumulated investment of around USD 0.7 billion since 2012: Royalla (20 MWac) in the Australian Capital Territory, Moree (56 MWac) in New South Wales, Clare (100 MWac) and Lilyvale (100 MWac) in Queensland, Goonumbla (67.8 MWac) in New South Wales and Winton (85 MWac) in Victoria.