Fulham Solar Farm & Battery
Octopus Australia and the Clean Energy Finance Corporation are joining forces to develop renewable energy assets that will help the Gippsland region.
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: 30,000 homes.
Renewable energy generated: 175,000 MWh each year (Expected Annual Tones of CO2 avoided: 115,000. This is the equivalent of planting 560k trees p.a. in urban areas and having 53k cars decommissioned)
Jobs created: 100 construction jobs. Plus a program of re-skilling of local workers into renewable energy.
Size: 400 acres of land.
The landmark joint venture will help accelerate the delivery of the Fulham Project, comprising a 80 MWac solar farm and 64MW/116MWh BESS in Gippsland, Victoria. The Project has achieved planning approval from the Department of Environment, Land, Water and Planning (DELWP). Octopus Australia and the CEFC will be working closely together to bring the Project to Financial Close in 2024.
The Fulham Project will boost local economic development in the Gippsland region, which continues to recover following recent bushfires, drought, and the decline of local industries including timber and coal based power generation. This Project offers an exciting new pathway for the Gippsland community to benefit from the clean energy economy. The Project is also expected to showcase the ability of sheep grazing and solar farms to co-exist, providing a diversified revenue stream to local landholders.
The development, construction, and operation of the Project is expected to create over 100 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 development.
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 this renewable energy asset for Gippsland.
With the early retirement of the Yallourn coal fired power station being recently announced, the nearby Fulham development forms a 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.”