Clean energy developer and operator Fotowatio Renewable Ventures (FRV) Australia has acquired a 140-MW solar project with storage in Victoria, which is in the final stages of permitting.
The vendor, ACEN Australia, is part of the Philippine group Ayala’s ACEN Corp (PSE:ACEN). FRV did not disclose the financial details of the transaction and financed the purchase without external funding.
The Axedale project will feature a photovoltaic (PV) park with a 50-MW/100-MWh battery energy storage system (BESS), located approximately 20 kilometres (12.4 miles) east of Bendigo. Once operational, it is expected to generate nearly 369,500 MWh of electricity annually, enough to power around 80,000 local homes. The integrated BESS will provide two hours of storage capacity.
A grid connection agreement was signed in late 2024 with transmission system operator AusNet and the Australian Energy Market Operator (AEMO).
FRV Australia is a joint venture between Abdul Latif Jameel Energy’s FRV and Canadian investor and asset manager Omers Infrastructure. The company operates eight plants with a combined capacity of almost 1 GW.
