Herbert Smith Advises FRV on Financing of Walla Solar Farm

Herbert Smith Freehills has advised Fotowatio Renewable Ventures Australia (FRV Australia) on the project financing of the Walla Walla Solar Farm, located in Walla Walla near Albury, which will one of the largest solar farms in New South Wales.

The solar farm is anticipated to begin its operations in 2023 and will have a peak power capacity of approximately 300MWac.

The funding is being provided by Clean Energy Finance Corporation, Export Development Canada and ING.

The Herbert Smith Freehills team was led by Melbourne partner Gerard Pike and executive counsel Amelia Fleming with support from solicitors James Tong and Sylvia Tran.

Gerard Pike commented: “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 close in the second half of 2022. Once constructed, it will make a significant contribution to Australia’s energy transition.”

With this deal, Herbert Smith Freehills continues to demonstrate its leadership in the financing of Australia’s large scale energy transition assets, having also recently closed:

  • the refinancing of the FRV Australia’s Moree Solar Farm in New South Wales;
  • several Green Loan facilities for ACEN Australia; and
  • the project financing of Edify Energy’s large-scale Riverina Battery Energy Storage System.

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