$300m Fulham Solar Farm & Battery project to support 156 jobs

Approximately 156 jobs will be supported through the construction of the $300 million Fulham Solar Farm and Battery project in Gippsland, Victoria. 

Major works are now underway on the 80MW solar farm and 128MWh battery system that will collectively generate enough electricity to power 40,000 homes. 

This renewable energy project is supported by the second Victorian Renewable Energy Target auction (VRET2), which was set up to help deliver more clean energy into the grid as well as drive down electricity bills – allowing Victorian families to save money. 

“The Fulham Solar Farm will deliver more great jobs in Gippsland and cheaper energy bills for all Victorians. 

“This project is a fantastic example of how we’re working with industry to provide opportunities for local supply chains and local communities to benefit from our renewable energy future,” Minister for Energy and Resources Lily D’Ambrosio said. 

“This project will generate new jobs and opportunities for local supply chains, boosting investment in the local economy,” Member for Eastern Victoria Tom McIntosh said. 

Octopus Investments is building and will be operating the Fulham Solar Farm and Battery project. 

The company will also use 67 per cent local services, goods and materials during the construction phase and 97 per cent once the solar farm is up and running. This is part of the content requirement across all VRET2 projects to support local supply chains. 

In addition, Octopus Investments will invest a further $3 million towards engagement and benefit sharing with the local community for the 35-year operational life of the Fulham Solar Farm and Battery project, ensuring regional towns receive additional benefits for hosting renewable energy developments. 

Thanks to the Victorian Government’s record investments in renewable energy, the State has the lowest wholesale power prices in Australia. 

Once completed, the VRET projects will have supported a total of over 1,720 direct jobs while attracting $2.48 billion worth of investment in new renewable energy projects. 

“The successful close of Fulham Solar Farm and Battery marks a major step forward in our mission to accelerate Australia’s energy transition. 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. I’m incredibly proud of our team’s efforts in bringing the project through development, and we look forward to beginning construction,” Renewables Australia Co-Managing Director Sonia Teitel said. 

“As a long-term investor and supporter of Australian infrastructure assets, particularly in the renewable energy sector, we believe our members will benefit from the attractive risk-adjusted return prospects of the Fulham Solar Farm and Battery project, as well as from having additional renewable energy assets in their communities. Octopus’ focus on renewables offers a fantastic opportunity for Rest’s two million members to benefit from the ongoing decarbonisation of the economy. We’re excited to reach this milestone and see construction get underway,” Rest’s interim Co-Chief Investment Officer Simon Esposito said. 

“It’s a great pleasure to be able to mark the successful close of the Fulham Solar Farm and Battery. The CEFC is proud to support the continued growth of new clean generation along with the storage, transmission and infrastructure that is crucial to Australia’s energy grid. I congratulate the Octopus team on their work in showcasing the DC-coupled hybrid technology in this region. Fulham will be one of the first of these configurations in Australia which allows 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,” CEFC Chief Investment Officer, Renewables and Sustainable Finance Monique Miller said. 

Source: Premier of Victoria – Media Centre; Octopus Investments (1, 2)