FRV Australia secures A$1.2 billion refinancing for renewable energy portfolio

The refinancing deal, valued at A$1.2 billion, will provide comprehensive financial support for FRV Australia’s portfolio of photovoltaic (PV) plants and secure robust backing for future expansion and new project development. 

The package includes a term loan to refinance the existing portfolio debt, a Letter of Credit (LC) facility, and a working capital facility to bolster FRV Australia’s ongoing development activities across the country. 

The transaction perimeter consists of all of FRV Australia’s operating and under-development plants, including Lilyvale, Moree, Sebastopol, Goonumbla, Metz, Winton, Walla Walla and Dalby.  

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Carlo Frigerio, CEO of FRV Australia, said, “We are thrilled to achieve this significant milestone in our journey This refinancing not only secures the future of our current operations but also provides a strong foundation for our continued growth and commitment to developing renewable energy projects across Australia.” 

The refinancing involved eleven financial institutions, including ING Bank, Westpac Banking Corporation, MUFG Bank, Société Générale, Norddeutsche Landesbank, Mizuho Bank, Intesa Sanpaolo, United Overseas Bank, the Clean Energy Finance Corporation, China Construction Bank, and Agricultural Bank of China.  

Macquarie Capital served as the transaction’s financial advisor, while White & Case provided legal advice to FRV and Allens acted as legal counsel for the lenders.