DIF Infrastructure IV has announced the total acquisition of the 20 MW Royalla solar photovoltaic power plant from Fotowatio Renewable Ventures (FRV).

Developed by FRV, Royalla was the first project to be completed under the innovative reverse auction program launched by the ACT government. The utility-scale solar power project is located in the Australian Capital Territory (ACT) and covers 50 hectares of land.

The project is powered by 83,600 solar panels, providing enough power for 4,500 homes, and is the first large-scale solar power plant to be connected to Australia’s national electricity grid.

The ACT will buy the electricity and the Large Scale Green Certificates generated by Royalla for 20 years at a fixed price of AUD186 / MWh (US$128 / MWh).

Marko Kremer, Head of DIF Australia said:

“Royalla was an obvious choice as DIF’s first investment in Australia because it is a high quality solar PV power project that will generate long-term cash flows and stable returns,”