FRV’s Lilyvale Solar Farm Project Secures Power Purchase Agreement with Ergon Energy

February 7, 2017

Global utility-scale solar developer, Fotowatio Renewable Ventures (FRV), has announced it has signed a Power Purchase Agreement (PPA) with Ergon Energy, the Queensland Government-owned electricity retailer, for the output from its proposed 100 MWAC (125MW DC) Lilyvale Solar Farm project.
 
The PPA, which will see Ergon Energy purchase 100 percent of the electricity and all large scale renewable energy certificates (LRECs) generated by the Lilyvale Solar Farm, will be effective once the solar facility begins operation – which is expected to be towards the end of 2018.
 
The PPA will run until the end of the Renewable Energy Target (RET) scheme in 2030.
 
The announcement is the third PPA FRV has signed in Australia within the last 12 months, following PPAs with Origin Energy for the Moree Solar Farm in NSW and the Clare Solar Farm, near Ayr in North Queensland.
 
FRV’s Australian Managing Director, Cameron Garnsworthy, said he was pleased to be working with Ergon on this significant project.
 
“Using commercially-proven, single axis tracking technology, FRV will provide Ergon with significantly greater commercial value by maximizing output from the Lilyvale Solar Farm over longer periods in the day,” he said.
 
“FRV continues to demonstrate strong performance in securing long term PPAs to underpin its landmark solar power projects in Australia,” he added.
 
The proposed Lilyvale solar farm is located 50 kilometres North East of Emerald in the Queensland Central Highlands region, known for its many coal mines and cattle farming industry.
 
The project received development approval in September 2015. FRV estimates up to 200 workers will be needed to complete Lilyvale Solar Farm’s construction and five ongoing roles will be created once the project is operational.
 

The project’s location near to major existing network infrastructure makes it ideal for connecting the solar farm to the national electricity grid and it is expected to power approximately 45,000 homes.


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Javier Esquivias

General Deputy Director, Elecnor

They are always a step ahead, and not just in the technical aspect. In addition, they have always been very rigorous and reliable. When they commit to a project, they always go all the way to the end.

Scott Mackin

Managing Partner and Co-President, Denham Capital

Denham Capital has been proud to partner with the team at FRV for nearly three years in this very successful investment. Rafael, José and their colleagues have captured a leading position in key emerging markets where solar undercuts the marginal cost of electricity.

Gianfranco Carassale

Lead Investment Officer, Inter-American Investment Corporation (IIC)

They are known for their expertise in solar technology as well as for their deep knowledge of the process, the financial structure and the energy market as a whole. This enables them to be extremely competitive. This way they reach efficiency and maximize profits, developing economically viable projects even at very tight and ambitious price targets.