The energy landscape in Australia is buzzing with activity, as Fotowatio Renewable Ventures (FRV) Australia, in partnership with the Canadian infrastructure fund OMERS, has snapped up the Axedale project. This combined solar and battery storage facility, previously owned by ACEN Australia, is set to bolster FRV’s footprint in the Australian market significantly. The acquisition is more than just a business deal; it’s a strategic move that could reshape the region’s energy dynamics.
Located a mere 20km east of Bendigo, Victoria, the Axedale project is no small player. With a 140MWac solar capacity and a 50MW/100MWh battery storage system, it’s designed to provide two hours of operation, offering a substantial boost to grid stability. The facility is expected to churn out an impressive 369,459MWh annually, enough to power 80,000 homes in Victoria. This is not just about numbers; it’s about transforming how energy is generated and consumed in the region.
FRV Australia’s CEO, Carlo Frigerio, underscored the significance of this acquisition, stating, “The acquisition of Axedale underscores our commitment to developing innovative projects that blend renewable energy and storage, key elements for ensuring grid stability and advancing towards a cleaner, more efficient energy system.” This isn’t just corporate speak; it’s a clear signal of FRV’s ambition to lead the charge in Australia’s renewable energy transition.
The Axedale project is almost ready to roll, with its permitting process nearing completion and a connection agreement secured with AusNet and AEMO in December 2022. But FRV isn’t stopping there. The company is also developing the Terang and Gnarwarre battery storage projects in Victoria, with Terang already under construction and Gnarwarre in its early stages. This aggressive expansion strategy is a clear indication of FRV’s confidence in the future of renewable energy in Australia.
Beyond Australia, FRV and OMERS have their eyes on the prize in New Zealand. In August 2023, their joint venture secured land for three new solar farms on New Zealand’s North Island. With a total power generation capacity of 400MW, these facilities are set to cover a total land area of 740 hectares. This international expansion is a testament to FRV’s global ambitions and its belief in the future of renewable energy.
The acquisition of the Axedale project and FRV’s broader expansion plans are more than just business moves; they’re a challenge to the status quo. They’re a call to action for other players in the energy sector to up their game and accelerate the transition to renewable energy. They’re a spark for debate about how we can make our energy systems cleaner, more efficient, and more stable. And they’re a thought-provoking reminder that the future of energy is not just about big numbers and impressive statistics; it’s about innovation, ambition, and a commitment to a cleaner, more sustainable world.
