Acciona Energía secures financing on 480MW Australian PV plant

Facebook
Twitter
LinkedIn
Reddit
Email
Acciona Energía secures financing on 480MW Australian PV plant
In related news, the company started construction on a 176MW solar PV plant in the Philippines. Image: Acciona Energía.

Spanish renewables developer Acciona Energía has closed an AU$453 million (US$287 million) loan facility for a 480MWp solar PV plant in Queensland, Australia.

The facility was secured through four banks, which acted as mandated lead arrangers, namely Banco Santander, BNP Paribas, ING and J.P. Morgan.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Construction of the project – called Aldoga Solar Farm – started in late 2023, while commercial operation is expected to begin by mid-2026.

A 15-year power purchase agreement with Queensland’s energy company, Stanwell Corporation, has already been secured when the company unveiled the start of the project’s construction.

The Spanish developer is responsible for the development, engineering, construction, management, operation and maintenance of the project.

Total investment of the PV plant is estimated at AU$670 million. US solar tracker manufacturer Nextracker will provide the trackers for the 480MWp Aldoga solar park which will have 820,000 solar panels installed.

Accion breaks sod on 176MW PV plant in the Philippines

In other related news, the Spanish developer started construction on a 176MWp solar PV plant in the Philippines.

Located on the island of Cebu, the Daanbantayan solar plant, the project represents an investment of €120 million (US$131 million) and is scheduled to be operational in late 2026.

A battery energy storage system (BESS) will be co-located with the project, however the company did not disclose the BESS capacity or output.

According to the company, this project represents the country’s first public-private partnership in the energy sector for the power distribution of the plant.

Furthermore, this represents the first solar PV project for the Spanish developer in the Southeast Asian country.

Read Next

June 20, 2025
The Energy Corporation of New South Wales (EnergyCo) has confirmed that construction on Australia’s first Renewable Energy Zone (REZ) has started.
June 20, 2025
The Australian government has given the green light for a landowner-led 250MW solar-plus-storage project in Tasmania.
June 19, 2025
Danish renewables firm European Energy has reached financial close on a 137MW utility-scale solar PV portfolio in Australia.
June 19, 2025
Australia-based solar PV module manufacturer Tindo Solar has inked a 15MW solar PV module supply agreement with Vietnam.
June 18, 2025
Greek developer Metlen Energy and Metals, formerly known as Mytilineos, has refinanced a 532MW solar PV portfolio in Australia.
June 18, 2025
Australia’s minister for climate change and energy, Chris Bowen, has announced plans to streamline the Capacity Investment Scheme (CIS) to around six months.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
OSZAR »