From pv magazine Australia
Fotowatio Renewable Ventures (FRV) Australia has announced the financial close and start of construction of the 100 MW / 200 MWh Terang Battery Energy Storage System project being developed in southwest Victoria.
FRV said the battery is being built on a 1.4-hectare site about two kilometres northeast of Terang in Victoria’s Western District with Canadian Solar’s battery specialist unit e-STORAGE appointed to head the build.
FRV Australia Chief Executive Officer Carlo Frigerio said reaching financial close on the Terang battery project is a significant milestone in the company’s journey in Australia.
“Getting our first large-scale battery to financial close is a major achievement for FRV Australia,” he said.
“This project shows our commitment to different renewable energy technologies and strengthens our place in the renewable energy sector. It paves the way for future innovations and growth in our portfolio.”
The financing of the Terang battery is part of the $1.2 billion (USD 780 million) portfolio refinancing process announced by FRV last week. The project will also receive $ 7 million in funding from the Victorian government to support the installation of grid-forming inverters.
FRV said the Terang battery is located in a “strong and strategic” part of the National Electricity Market and will be coupled with grid-forming inverters to supply system strength services to the network. The developer said connection agreements have already been signed with Victorian network operator AusNet.
The Terang battery is FRV’s first standalone large-scale battery project in Australia. It follows the commissioning of a 2.5 MW / 5 MWh energy storage system delivered as part of the Dalby Hybrid Power Plant in Queensland. The company is also developing the 250 MW / 500 MWh Gnarwarre battery project in Victoria.
FRV Australia, owned by a Saudi investment fund Abdul Latif Jameel Energy and Canadian infrastructure fund Omers, has more than 1 GW of solar assets built or under construction across 10 projects in Australia, including the 300 MW Walla Walla solar farm being built in New South Wales.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.