One of FRV’s most impressive solar development facilities
– the iconic 50-hectare Royalla Solar Farm in Australia
– has been sold to the Dutch Infrastructure Fund (DIF),
an independent fund management company.
FRV developed the plant under the Australian Capital Territory’s innovative reverse auction program – the first on this scheme and will continue to provide asset management services on behalf of the new owner.
Royalla is composed of 83,600 photovoltaic panels powering some 4,500 homes. It is expected to abate 800,000 tonnes of greenhouse gas emissions over its lifetime and also set a benchmark for the industry as the first large-scale solar power plant to be connected to Australia’s national electricity grid.
After having designed and built the plant, FRV has delivered a strong return on investment through the sale and this capital is reinvested by FRV and Abdul Latif Jameel Energy to grow its global project development business, across 19 countries around the world.
The Company recently received planning approval for three different large-scale solar farms located near the townships of Tieri, Clare and Baralaba, all in the State of Queensland that could deliver a combined generating capacity of over 300MWac when completed. FRV is also currently constructing the 56 MWac Moree Solar Farm in northern New South Wales – as well as plants in sub-Saharan Africa, Latin America and across the MENAT region.
Royalla is composed of 83,600 photovoltaic panels powering some 4,500 homes. It is expected to abate 800,000 tonnes of greenhouse gas emissions over its lifetime.