FRV Acquires Solar Battery Project in Victoria
FRV Australia, a subsidiary of Saudi-owned Fotowatio Renewable Ventures, has recently purchased an almost permitted solar project in Victoria, situated adjacent to its own long-planned project. The 140MW Axedale solar project, along with a 50MW/100MWh battery energy storage system, was being developed by Acen Australia, located 20km east of Bendigo.
Interestingly, FRV’s proposed 100MW Fosterville solar project and two-hour BESS are in the same rural area as the Axedale project, albeit still navigating the permitting process. In a strategic move, FRV submitted a planning amendment in December to incorporate a new power line and relocate the Fosterville BESS to align with the newly acquired project.
Long Planning Journey
Both the Axedale and Fosterville projects have faced significant delays in the planning phase. Acen Australia recently finalised a connection agreement with AusNet and the Australian Energy Market Operator for the Axedale project, indicating that it is nearing the end of the permitting process after securing approval in 2020.
Similarly, FRV obtained a planning permit for the Fosterville project in 2022, showcasing progress despite the challenges. FRV, a local subsidiary of Saudi energy company Jameel Energy, has demonstrated its dedication to developing innovative projects that integrate renewable energy and storage to enhance grid stability and promote a cleaner energy system.
Future Endeavours
FRV currently operates eight renewable projects with a total capacity of nearly 1GW and has several projects in the pipeline. These include the Terang and Gnarwarre BESS projects, the Fosterville solar-BESS initiative, and plans for a substantial 400MW/1,600MWh large-scale battery in the New South Wales New England region.
FRV CEO Carlo Frigerio emphasised the significance of the Axedale acquisition in advancing their mission of developing sustainable projects that contribute to a more efficient and environmentally friendly energy landscape.
Rachel Williamson, a science and business journalist specialising in climate change-related health and environmental issues, reported on this significant development within the renewable energy sector.
