Fotowatio Will Build Australia’s Largest Solar Farm
Fotowatio Renewable Ventures (FRV) has won the right to build a 20MW project near Canberra in Australia. FRV,which is based in the Netherlands, are involved in the complete management of solar energy facilities, and have been backed by U.S. energy investor Denham Capital Management LP.
FRV will participate in the Australian Capital Territory’s feed-in tariff program, which rewards generators of solar power by paying above-market prices for the electricity, Simon Corbell, ACT minister for the environment and sustainable development, said today in a statement.
The Royalla Solar Farm, to be built about 25 kilometers (16 miles) south of Canberra, will become the largest in Australia by 2014, according to the statement. The venture will help in an effort to lower carbon emissions and shift away from fossil fuels, the ACT government said.
FRV sought a new project in Australia after losing a competition earlier this year for federal government funds to build a large-scalesolar plant in New South Wales state. Denham Capital in March reached an agreement with FRV to invest $190 million in solar projects in markets including Australia.