Renewable energy fund manager and developer Octopus Australia says it has officially begun construction of the Fulham solar and two hour battery project after reaching financial close, and hosting a sod-turning ceremony at its site near Sale in Gippsland.
The $300 million project comprises an 80 megawatt (MW) solar component and a 64 MW, 128 MWh battery component, and has been financed with equity from super fund Rest, the Clean Energy Finance Corporation (CEFC), and clients of Westpac Private Bank.
The Fulham project is considered a landmark because it is one of the first, and largest, of so-called “DC-couple” solar batteries, which means solar generation flow directly to the battery through a DC/DC converter, which minimises conversion losses, and connection costs.
The battery management technology will be provided by Finnish group Wärtsilä, which will also provide a long-term service agreement to guarantee the project’s continued performance and reliability
Sited on 400 acres of farmland in Fulham, just outside of Sale in Victoria’s historic Gippsland region, the solar and battery project is already backed by a power purchase agreement from the Victorian state government.
A ceremonial sod turning event was at the site was attended by Lily D’Ambrosio, Victorian minister for energy and resources.
“The successful close of Fulham Solar Farm and Battery marks a major step forward in our mission to accelerate Australia’s energy transition,” said Sonia Teitel, co-managing director of renewables Australia for Octopus Australia.
“This project demonstrates our ability to bring together institutional capital, government support, and leading-edge technology to create renewable assets that provide long-term benefits to our communities and investors.
Monique Miller, the chief investment officer, renewables, for the CEFC said the Fulham set up will allow the battery to charge directly from the solar farm when sunshine is plentiful, and supply this electricity to the grid when it is needed to power homes and businesses.
“The Fulham solar farm will provide clean energy and construction jobs to the Gippsland region to help decarbonise the energy sector and demonstrates the key role regional Australia has to play in powering towards a low emissions future.”
Image Credit: Octopus Australia
The project aims to maximise the use of local businesses, tradespeople, and apprentices during construction, and will also utilise locally manufactured materials.
Construction is expected to be completed and the project fully operational in 2027.
Next on the cards for Octopus Australia is the $850 million Blind Creek solar farm and battery in New South Wales and the $800m million standalone Blackstone battery in Queensland, which are expected to enter into construction this year.
Monique Miller, the chief investment officer, renewables, for the CEFC said the Fulham set up will allow the battery to charge directly from the solar farm when sunshine is plentiful, and supply this electricity to the grid when it is needed to power homes and businesses.
“The Fulham solar farm will provide clean energy and construction jobs to the Gippsland region to help decarbonise the energy sector and demonstrates the key role regional Australia has to play in powering towards a low emissions future.”
