Fotowatio Renewable Ventures (FRV) Australia, a developer of sustainable energy solutions, has announced the acquisition of the Axedale project, a hybrid facility in Victoria that combines photovoltaic solar generation (PV) and battery energy storage (BESS).

Located 20 km east of Bendigo, the Axedale project will have a generation capacity of 140 MWac of PV solar energy and a battery storage system of 50 MW/100 MWh, capable of two-hours of operation. The facility will provide clean, renewable energy to approximately 80,000 homes in Victoria, with an annual output estimated at 369,459 MWh, according to a media release.

The Axedale project finalized a connection agreement with energy delivery service AusNet and the Australian Energy Market Operator (AEMO) in December 2024.

Baker & McKenzie advised FRV on the acquisition, which was completed without external financing. The project was acquired from ACEN Australia Pty Ltd, a renewable energy developer, owner and operator in Australia.

“The acquisition of Axedale underscores our commitment to developing innovative projects that blend renewable energy and storage, key elements for ensuring grid stability and advancing towards a cleaner, more efficient energy system,” said Carlo Frigerio, CEO of FRV Australia.  

With this addition, FRV Australia operates eight plants with a combined capacity of nearly 1GW in Australia. The company is actively hybridizing its portfolio and expanding its battery energy storage capabilities, including the Terang and Gnarwarre projects, two large-scale battery energy storage systems in Victoria, currently in construction and early works stages, respectively. 

Headquartered in Madrid and part of Jameel Energy and the Canadian infrastructure fund OMERS, FRV is a developer and operator of solar energy with a presence in Africa, Asia, Europe, Latin America and the Middle East.