Even without grant funding, financing for the 100-megawatt solar farm was granted to Fotowatio Renewable Ventures for the Lilyvale Solar Farm. The financing was agreed with Australia and New Zealand Banking Group (ANZ), Sumitomo Mitsui Banking Corporation (SMBC) and the bank of Tokyo-Mitsubishi UFJ as reported by PV-Tech.
The solar project will require 1 million solar modules and will be connected to the national grid. Once completed, the solar farm will generate enough power to generate 45,000 homes in Queensland. Operation is expected to start in 2018.
FVR’s other renewable projects are:
- Royalla with 20 megawatts located in the ACT
- Moree with 56 megawatts in New South Wales
- Clare with 100 megawatts is still being built in Northern Queensland