Abdul Latif Jameel Energy’s FRV receives USD $4.5 million in funding from Victorian Government to support construction of Terang 100MW battery project
- Abdul Latif Jameel’s FRV Australia receives a USD $4.5 million (7 million Australian dollars) million in funding under Round 2 of the Energy Innovation Fund (EIF)
- The fund aims to support the construction of the Terang 100-Megawatt (MW) Battery Project
- Built in Terang, Victoria, the project will support the Victorian Government’s efforts to achieve its renewable energy target of 50% by 2030
- The project is a lithium-ion battery energy storage system with a capacity 100MW/200MWh and is using grid-forming inverters
Leading developer of sustainable energy solutions, Fotowatio Renewable Ventures Australia (FRV), part of Abdul Latif Jameel Energy, and Canadian infrastructure fund OMERS, announced their plans to install a 100MW/200MWh lithium-ion battery energy storage system (BESS) using innovative grid forming inverters in Terang, following an announcement made by the Australian Minister of Energy, Lily D’Ambrosio, that Terang Battery Project will receive USD $4.5 million (7 million Australian dollars) investment under Round 2 of the Energy Innovation Fund (EIF).
Located in Terang, Victoria, the project will be one of FRV Australia’s first standalone battery projects in the country and will further drive FRV Australia’s mission to support the country’s clean energy mandate.
FRV Australia is commissioning another project that involves batteries, the 5MW Dalby Hybrid Solar Farm. It also has a significant pipeline of battery and hybrid projects at different stages of development. The company has delivered almost 800 MWdc of operational PV assets across nine projects in Australia for a total project investment value of over one billion Australian dollars.
Fady Jameel, Deputy President and Vice Chairman, Abdul Latif Jameel, said:
“Receiving this fund is a testament to Abdul Latif Jameel Energy’s expertise in introducing best-in-class renewable technologies. We look forward to the installation of Terang project as we continue to facilitate the energy transition journey across the world and support the efforts of local communities towards meeting their net-zero emissions’ target”.
FRV Australia CEO Carlo Frigerio said:
“We are delighted to receive support from the Victorian Government and enable the transition to a reliable renewable system with grid forming inverters battery systems. This is one of FRV Australia’s most advanced BESS projects expected to be built over the next few years”.
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 USD $25.5 million (40 million Australian dollars) 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 USD $11.5 billion (18 billion Australian dollars) in new investment to Victoria.