Construction Underway at FRV’s Moree Solar Farm

| International Power

Today marked the start of the 70 megawatt (MWp) Moree Solar Farm, one of the largest solar projects in Australia, as ground was broken during a ceremony that underscored the importance of solar and the renewable energy target to Australia’s energy future.

Global leader in solar energy, Fotowatio Renewable Ventures (FRV) and its engineering, procurement and construction contractor Green Light Contractors Pty Ltd, a subsidiary of Elecnor, conducted the ceremony at its site in Moree in northern New South Wales.

The project delivery team were joined by Federal Member for Parkes Mark Coulton, State MLA for Northern Tablelands Adam Marshall, NSW Parliamentary Secretary for Renewable Energy Leslie Williams MLA and Moree Plains Shire Council Mayor Katrina Humphries, and Australian Renewable Energy Agency CEO Ivor Frischknecht.

“It is fantastic to mark the commencement of construction of the Moree project. We are indebted to so many who have contributed in getting to this important milestone.”announced Andrea Fontana, FRV Australian Country Manager.

“Also critical to helping bring this project to fruition is the Renewable Energy Target (RET), which requires 41,000 gigawatt hours of Australia’s energy demand be met by renewable energy. This target is currently under review, and we are very hopeful that it will be kept substantially unchanged in order not deter the success of this project.”

Moree will use mechanical devices (trackers) to continually orient its solar panels with the sun to increase their power output each day. Once completed it will produce enough electricity to power the equivalent of nearly 15,000 New South Wales homes and abate nearly 95,000 tonnes of carbon pollution each year.

“The Moree Solar Farm positively contributes to the country’s power industry in many ways. Aside from generating clean energy, it leads the way for large scale solar projects. In addition, we expect it will create more than 100 local jobs during construction as it ramps up in the coming weeks and months,”added Fontana.

About FRV

FRV is a leading global solar development company with approximately 3GW of active project development in the emerging solar markets including Australia, the Middle East, Africa and Latin America.  Such markets are primarily characterized by the fact that solar power generation can be provided at cost less than the marginal cost of power and/or have broad support for the development of solar power.

Since 2006, the management team has completed the construction, operation, maintenance and financing of over 500 MW of photovoltaic and CSP solar energy plants.  Such projects represent more than $2 billion in total financings with more than 20 leading banks.

Denham Capital, an energy and resources focused private equity firm with more than $7.9 billion in invested and committed funds, is a majority shareholder in FRV.

About Elecnor

Elecnor S.A. (ENOR.MC), the Madrid-based publically listed engineering and Construction Company, which specialises in general infrastructure services ownership, renewable energy and technology.

Elecnor was established in 1958 and has grown to operate in 33 countries with over 14,000 employees generating revenue in excess of AUD $ 3.0 billion dollars. The company is publicly listed on the Spanish stock exchange with a market capitalisation of approximately AUD$1.0 billion.