SYDNEY --
Fotowatio Renewable Ventures, the solar-power plant developer backed
by U.S. energy investor Denham Capital Management LP, won the right to
build a 20- megawatt project near Australia's capital.
Fotowatio will participate in the Australian Capital Territory’s feed-in tariff program, which rewards generators of solar power by
paying above-market prices for the electricity, Simon Corbell, ACT
minister for the environment and sustainable development, said today in a
statement.
The Royalla solar farm,
to be built about 25 kilometers (16 miles) south of Canberra, will
become the largest in Australia by 2014, according to the statement. The
venture will help in an effort to lower carbon emissions and shift away
from fossil fuels, the ACT government said.
Fotowatio, which is based in the Netherlands, sought a
new project in Australia after losing a competition earlier this year
for federal government funds to build a large-scalesolar plant in New South Wales state. Denham Capital in March reached an agreement with Fotowatio to invest $190 million in solar projects in markets including Australia.
Copyright 2012 Bloomberg
http://www.renewableenergyworld.com/rea/news/article/2012/09/fotowatio-plans-to-build-australias-largest-solar-project
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