Fotowatio Renewable Ventures secures financing of solar farm
White & Case has advised Fotowatio Renewable Ventures on the development of the 90-megawatt Sebastopol Solar Farm.
Firm: White & Case (Fotowatio Renewable Ventures)
Deal: Global firm White & Case has advised Fotowatio Renewable Ventures (FRV) on the development and project financing of the 90-megawatt Sebastopol Solar Farm in NSW.
Area: Project and financing.
Key players: The team was led by partners Brendan Quinn and Michelle Keen and local partner Mark Montag, with support from counsel Candice Ota and Andrea Reeves and associates Naomi Midha, Justin Chang, Maria Adalia, Sarah Oh, Kirsten Sugden, David Lagesse and Kian Newlyn.
Deal significance: With a surface area of approximately 248 hectares, it is estimated the Sebastopol Solar Farm will generate enough clean energy to supply more than 40,000 Australian households. ING is the lender to the project, supported by a power purchase agreement with the government-owned retailer Snowy Hydro.
Mr Quinn said it is the FRV’s seventh solar project in Australia.
“The project illustrates continued lending appetite for renewable assets in Australia, and our continued support for FRV, following assisting them with the 85 MW Winton Solar Farm which successfully achieved financial close in Q1 of 2020,” he said.