FRV Australia receives $7 million funding from the Victorian Government from the Energy Innovation Fund to support the construction of the Terang 100MW Battery project
- FRV Australia Terang BESS project will be built in Terang, Victoria and will help continuing the Victorian Government drive to a renewable energy target of 50 per cent by 2030.
- The project is a lithium-ion battery energy storage system with a capacity 100MW/200MWh and is using grid-forming inverters
- The Victorian Minister for Energy Lily D’Ambrosio announced that Terang will receive AUD $7M investment under Round 2 of the Energy Innovation Fund (EIF).
Sydney, September 29th 2022
Leading developer of sustainable energy solutions, Fotowatio Renewable Ventures Australia, as part of Abdul Latif Jameel Energy and Canadian infrastructure fund OMERS, will install a 100MW/200MWh lithium-ion battery energy storage system (BESS) using innovative grid forming inverters in Terang. The Victorian Minister for Energy Lily D’Ambrosio announced earlier this week that Terang will receive AUD $7M investment under Round 2 of the Energy Innovation Fund (EIF).
Located in Terang, Victoria, the project will be one of the first FRV Australia’s standalone battery projects in the country. FRV Australia is commissioning another project involving batteries, the 5MW Dalby Hybrid Solar Farm and have a significant pipeline of battery and hybrid projects at different stages of development.
Forming an important part of FRV Australia’s clean energy portfolio, the plant will further drive FRV Australia’s mission to support the country clean energy mandate. The company has delivered almost 800 MWdc of operational PV assets across 9 projects in Australia for a total project investment value of over 1 billion dollars.
The EIF supports innovative, high-impact energy technology developments that are aligned with Victoria’s New Energy Technologies Sector Strategy. It is designed to create new job opportunities, drive down consumer costs, help achieve net-zero carbon emissions by 2050, and promote diversity and resilience in the state’s energy sector.
In November 2021, Victoria pledged almost $40 million under Round 1 of the EIF for three major offshore wind proposals, which together could develop 4.7 GW of new capacity, power around 3.6 million homes, and bring more than $18 billion in new investment to Victoria