• The Terang BESS is FRV Australia’s first Large Scale Battery project and will increase its operational assets in Australia to nine.
  • The financing of Terang BESS is part of the US$ 780m (AUD$ 1.2bn) portfolio refinancing process recently completed by FRV Australia, including 11 financial institutions.
  • The project will support the Victorian Government’s drive to a renewable energy target of 50% by 2030 and will boost the local economy by creating up to 150 construction jobs and increasing investment in local services.

Fotowatio Renewable Ventures (FRV) Australia, a leading developer of sustainable energy solutions, and part of Jameel Energy, and the Canadian infrastructure fund OMERS have announced the financial close and commencement of construction of the Terang Battery Energy Storage System (BESS) project. This marks a significant milestone in FRV Australia’s commitment to advancing various renewable energy infrastructure technologies.

The project will also receive US$ 4.6m (AUD$ 7m) in funding to support the installation of new grid forming inverters, awarded under round two of the Victoria Government’s Energy Innovation Fund (EIF) to help continue the Victorian Government’s drive to a renewable energy target of 50% by 2030.

Located two kilometers north-east of Terang’s center and approximately 40 kilometers north of Warrnambool, the BESS will have a capacity of 100MW/200MWh. It will connect to the national electricity grid and be built on the traditional land of the proud Eastern Maar people.

The project is not far from another FRV Australia battery, the 250MW/500MWh Gnarwarre BESS project, located in the southwest region of Victoria, which received conditional funding under ARENA’s Large Scale Battery Storage Round and is also planned to start construction soon.

The Terang BESS project will significantly contribute to economic development in the southwest region of Victoria. FRV Australia anticipates the project will create up to 150 jobs during the construction phase and will employ three to four permanent operational staff. FRV Australia will also award site maintenance contracts to local businesses.

FRV Australia has appointed Canadian Solar’s e-STORAGE for the construction, leveraging their expertise in delivering high-quality battery storage solutions. The project signed the connection agreements with AusNet in 2024 and is located in a strong and strategic part of the electricity grid.

Carlo Frigerio, CEO of FRV Australia said:

“Getting our first large-scale battery to financial close is a major achievement for FRV Australia. 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.”

About FRV Australia
FRV was one of the first international solar developers to enter the Australian market and developed its first Australian solar PV project pipeline in 2011 opening the local solar market. FRV was also the first company to deliver a project-financed large scale solar farm in Australia with the Royalla Solar Farm near Canberra operating since August 2014. To date, the company has developed over 1 GW of PV assets built or under construction across 10 projects. The activities are based in Sydney and the company has a multidisciplinary team of over 80 employees. In October 2021 FRV partnered with OMERS Infrastructure signing an agreement for the sale of 49% of FRV Australia. The partnership with a top tier investor such as OMERS is a strong signal of confidence in the high value of FRV’s portfolio of projects and pipeline and it will accelerate the growth plans for the company in Australia. For more information, please visit: frv.com 
About FRV 
FRV, part of Jameel Energy, is a leading global renewable energy development company. In line with our ambition to continue leading the global transition to a more sustainable energy future, FRV has evolved from being just a developer to becoming an independent power producer.  We aim to be the world’s leading green energy and infrastructure platform.
For more information, please visit: frv.com 
About Jameel Energy
Jameel Energy (previously known as Abdul Latif Jameel Energy) was established in 2012 to spearhead investment in a more sustainable future. Our flagship international renewable energy business, FRV, is a developer and independent power producer, with interests in 16 countries around the world with capabilities in solar PV, wind and Battery Energy Storage Systems (BESS). For more information, please visit: alj.com/energy   
About OMERS Infrastructure
OMERS Infrastructure manages infrastructure investments globally on behalf of OMERS, the defined benefit pension plan for municipal employees in the Province of Ontario, Canada, and third-party investors through its Strategic Partnership Program. OMERS Infrastructure manages approximately C$36 billion, including capital invested on behalf of OMERS and third parties, in approximately 30 investments located in North America, Western Europe, India and Australia, and across sectors including energy, digital and transportation. OMERS Infrastructure has employees in Toronto, New York, London, Amsterdam, Singapore and Sydney. More information: www.omersinfrastructure.com.

Abdul Latif Jameel Copyright Notice and Disclaimer