Fotowatio Renewable Ventures Australia (FRV Australia) will receive $7 million funding towards its installation of a 100MW/200MWh lithium-ion battery energy storage system (BESS) using innovative grid forming inverters in Terang.
Victorian Minister for Energy Lily D’Ambrosio said Terang would receive a $7 million investment under Round 2 of the Energy Innovation Fund (EIF).
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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.
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 most advanced BESS projects expected to be built over the next few years.”
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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.
