Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy, has closed the financing agreement for the 85 MWac Winton Solar Farm in Victoria.
The funding has been provided by ING and ABN AMRO Bank. Following a 2018 public tender process, FRV was awarded a 15-year support agreement with the Australian State of Victoria for the power generation project at Winton Solar Farm. The tender was part of Victoria’s Renewable Energy Target (VRET) to source 25% of its electricity production from renewables by 2020, 40% by 2025 and 50% by 2030.
With an area of approximately 250 hectares and located near Benalla, the plant will be connected to the NEM National Electricity Market generating around 210,000 MWh of clean energy annually. This will supply 52,000 Australian households and avoid the emission of approximately 150,000 tonnes of CO2 every year.
