The solar farm is expected to become one of the largest in New South Wales
Herbert Smith Freehills has advised Fotowatio Renewable Ventures Australia (FRV Australia) on the successful project financing of the Walla Walla Solar Farm near Albury.
FRV focuses on clean, sustainable, reliable and low-cost models of delivering electricity to its customers. The solar farm is anticipated to begin its operations in 2023 and will have a peak power capacity of approximately 300MWac.
The Walla Walla Solar Farm is expected to become one of the largest in New South Wales, along with Darlington Point Solar Farm and Limondale Solar Farm. Clean Energy Finance Corporation, Export Development Canada, and ING will fund the project.
Melbourne partner Gerard Pike and executive counsel Amelia Fleming led the Herbert Smith Freehills team, with support from James Tong and Sylvia Tran. The firm operates in 26 offices across the globe, providing legal assistance in a number of industries, including banks, consumer products, energy, infrastructure and transport, mining, pharmaceuticals and healthcare, real estate, technology, media, and telecom.
“We are excited to have worked with FRV Australia again on reaching financial close for Walla Walla Solar Farm – one of the few large-scale renewable energy greenfields projects to achieve closing in the second half of 2022,” Pike commented. “Once constructed, it will make a significant contribution to Australia’s energy transition.”
Herbert Smith Freehills has been assisting in the financing of some of Australia’s large-scale energy transition assets. The firm has recently closed the refinancing of FRV Australia’s Moree Solar Farm in New South Wales, and several Green Loan facilities for ACEN Australia. Herbert Smith Freehills has likewise advised Genex Power on the development, offtake, and project financing of the 50MW/100MWh Bouldercombe Battery Energy Storage System in Queensland.
The firm has also helped in sealing the deal for the project financing and major equity sale of Edify Energy’s Riverina Battery Energy Storage System. The project is located in Darlington Point, NSW. It is the largest approved utility scale grid-forming battery in the National Electricity Market.
