Renewable energy behemoth Fotowatio Renewable Ventures acquires Metz Solar Farm

The 115 MW Metz Solar Farm is located on the property Bailey Park, 20 kilometres east of Armidale. It will bring the total solar capacity of Sydney based FRV to approximately 650 megawatts of direct current in Australia.

In the next five years, the company ( whose head office is registered in the Netherlands) expects an investment of over USD 2 billion in fixed assets across the markets it operates in Australia, Europe, the Middle East, Africa, Asia and Latin America.

The acquisition of the Metz Solar Farm is the eighth project of FRV in Australia and the fourth major project for the company in New South Wales.

FRV is a subsidiary of Abdul Latif Jameel Energy which is one of the world's largest global developers of renewable energy projects. The company was formed in 2012 as an independent power producer and service provider of operations and maintenance in the renewable energy sector. It has renewable energy interests in 16 countries worldwide include solar photovoltaic, wind, waste-to-energy, and environmental solutions such as desalination, water and wastewater treatment.

Abdul Latif Jameel Energy's parent company is the multibillion-dollar family-owned diversified business founded in Saudi Arabia in 1945 by the late Sheikh Abdul Latif Jameel which operates across seven core business sectors, with a presence in over 30 countries across six continents.

FRV's Australian managing director Carlo Frigerio said the Hillgrove operation would help the company consolidate its portfolio in New South Wales.

"This is another high-quality project which will contribute to the expansion of our portfolio of projects in Australia," he said.

"It also will help the government achieve its ambitious target of 12GW of renewables and storage under the Electricity Infrastructure Roadmap that was launched recently."

FRV say the Hillgrove project is underpinned by a Power Purchase Agreement (PPA) signed with Snowy Hydro in 2018 and will connect to the national grid and generate enough power to supply up to 40,000 Australian households.

"That's over half of the 69,000 households in the New England region," Mr Frigerio said.

"In addition, it's estimated that the annual greenhouse gas emissions reduced by the project will be approximately 288,000 tonnes of CO2 equivalent while at the same it will also save approximately 440,000 megalitres of clean drinking water compared to a coal-fired power station."

The privately-owned foreign company insists Metz Solar Farm will deliver significant benefits to the Armidale area, and the wider community, from the creation of direct jobs throughout each stage of the project's life cycle.

It says an on-site office will be established to manage the consultation and continued engagement during the operations period in addition to monitoring all construction-related activities during the construction period.

"During the construction period it is estimated that the project could provide jobs for up to 100 workers over the course of a year," Mr Frigerio said.

Metz Solar Farm will bring FRV's Australian operating and in construction solar projects to eight, of which four are in New South Wales, including Moree (56 MWac) and Goonumbla (69.75 MWac) in operation and Sebastopol (90 MWac) under construction.

The deputy president and vice chairman of Abdul Latif Jameel said Metz Solar Farm is the groups latest venture with FRV.

"Through this acquisition, our company reiterates its commitment to supporting Australia's transition to sustainable energy," Fady Jameel said.

"Enhancing renewable energy infrastructure in key markets is at the heart of our approach, as we strive to build clean energy solutions that meet resilience needs and benefit the planet and its communities for generations to come."

The New England was recently legally designated a 'renewable energy zone' in legislation which passed the lower house of NSW state parliament last month.

The region is designated to be home to as much as $12.7 billion worth of renewable energy investment, the biggest in the state.

A batch of local groups lobbying against wind and solar projects in the region was set to hold its first meeting this month but cancelled because of the large number of potential attendees conflict with COVID-19 restrictions.

Meeting organiser, John Galletly said the Metz Solar Farm was one of the earliest renewable projects to be approved in the area and there was no community opposition to it that he knew of.

Metz Solar Farm was approved in 2017 and construction is expected to begin early next year.