FRV Australia bags state financing for 100-MW/200-MWh battery in Victoria
- The Aussie unit of lasting energy developer and power manufacturer Fotowatio Renewable Ventures (FRV) will certainly receive state funding to support the building of a 100-MW/200-MWh battery energy storage space system (BESS) in Victoria.
Fotowatio Renewable Ventures Australia stated on Thursday it will be given AUD 7 million (USD 4.6 m/EUR 4.7 m) under the 2nd round of the Aussie state's Energy Innovation Fund (EIF). The funding is allocated for its Terang project.
To be set up just outside the town of Terang, in the Western District of Victoria, the lithium-ion battery will certainly include 78 delivery containers situated next to the Terang Terminal Station. The AUD-100-million project was launched by ACEnergy.
"This is among FRV Australia's most innovative BESS projects anticipated to be built over the following few years," stated FRV Australia's chief executive officer Carlo Frigerio.
FRV spokesperson Juan Gonzales has informed The Standard that onsite building works result from being in the second half of following year, with the battery planned to be turned on by end-2024.
Fotowatio Renewable Ventures Australia is collectively owned by FRV and also Canadian investor and also asset manager Omers Infrastructure. The last agreed to acquire a 49% risk in the Aussie company in October 2021.
