Perry Bridge and Fulham Solar Farms
Octopus Australia and the Clean Energy Finance Corporation are joining forces to develop renewable energy assets that will help the Gippsland region power its transition into a green superpower.
Octopus Australia focuses on investing into renewable energy assets in Australia. We’re committed to making sure the farms we run and invest in maintain ties with local communities and provide more homes with clean energy.
Location: Gippsland, Victoria.
Homes powered: 51,000 homes.
Renewable energy generated: 280,000 MWh each year (Expected Annual Tonnes of CO2 avoided: 181,000. This is the equivalent of planting 898k trees p.a. in urban areas and having 92k cars decommissioned).
Jobs created: 300 construction jobs. Plus a program of re-skilling of local workers into renewable energy.
Size: 700 acres of land.
The landmark joint venture will help accelerate the delivery of both the proposed 60 MWac Perry Bridge solar farm and 80 MWac Fulham solar farm in Gippsland. The Perry Bridge solar farm has achieved planning approval from the Department of Environment, Land, Water and Planning (DELWP) on April 15th, 2021, while the Fulham solar farm planning process is currently underway. Octopus Australia and the CEFC have purchased the rights to develop the projects from local Gippsland based developer Solis Re, and the three parties will be working closely together to bring the projects to financial close.
When constructed, the Perry Bridge and Fulham solar projects will be a boost to the local economy of the Victorian region which is still recovering from recent bushfires, drought and the decline of local industries including timber and coal based generation. These projects offer an exciting new pathway for the Gippsland community to benefit from the clean energy economy. The projects are also expected to showcase the ability of sheep grazing and solar farming to co-exist, providing a diversified revenue stream to local landholders.
The development, construction and operation of the two solar farms are expected to create over 250 direct jobs during the construction period. Further employment will be generated for local businesses who will soon be able to register their interest to fill a wide range of services needed to support the developments.
Through its investments, the CEFC has helped Australia’s renewable energy sector achieve rapid growth in recent years, delivering substantial amounts of clean energy across Australia. This experience will be critical as we develop these renewable energy assets for Gippsland.
With the early retirement of the Yallourn coal fired power station being recently announced, the nearby Perry Bridge and Fulham developments form part of the suite of new energy generation that will be required to replace this asset.
The CEFC is helping cut emissions by investing $10 billion on behalf of the Australian Government across the economy – in agriculture, cleantech innovation, energy generation and storage, infrastructure, property, transport and waste.
CEFC Executive Director Monique Miller said: “Investment in new, clean generation, storage, transmission and infrastructure is critical to support the security and reliability of Australia’s energy grid. We are delighted to be further extending our investments in Victoria’s renewable energy sector with these exciting developments in the Gippsland region.”