Fotowatio Renewable Ventures Australia (FRV Australia), a prominent developer specializing in sustainable energy solutions and a subsidiary of Abdul Latif Jameel Global Energy and Environment Holding Company Limited (Abdul Latif Jameel Energy) and OMERS, has extended its footprint in New Zealand. The company has successfully acquired three new solar sites in the country through a collaborative effort with its joint venture partner, Genesis Energy, a publicly listed electricity generation company based in New Zealand.
Spanning across New Zealand’s North Island, the solar farms are set to take shape in Manawatu, Waikato, and Hawke’s Bay, boasting individual capacities of 200MW, 100MW, and 100MW. In unison, these three sites will produce a sufficient electricity output to energize roughly 85,000 households each year—an equivalent scale to that of Wellington, the nation’s capital. Notably, the combined impact of these solar installations will curtail around 500,000 tons of CO2 emissions generated annually from conventional fossil fuel-based power generation methods.
In the earlier months of this year, the collaborative venture between FRV Australia and Genesis made a significant stride by procuring the Lauriston solar farm. This project, which is in an advanced stage of development in Canterbury and holds a capacity of 52MW, joined the ranks of the initiative. With the collective power generation of these four sites totaling 452MW, the company is firmly on its way to realizing the goals set in 2021 for the joint venture—namely, securing a portfolio of solar projects encompassing up to 500MW within a span of five years.
Carlo Frigerio, CEO of FRV Australia, said “The new sites under development are the outcome of the ongoing successful joint efforts between FRV Australia and Genesis. They form an important part of our strategy aimed at developing sustainable energy solutions as part of our mission to drive the global energy transition towards a cleaner future. We are deeply committed to working with world-class partners to realise our development ambitions in New Zealand following our highly successful ventures in Australia.”
Rebecca Larking, Chief Operations Officer at Genesis, said “Solar provides a strong alternative source of renewable generation to the country’s heavy reliance on hydro and growth in wind generation with the added benefit that the time to build and start delivering electricity is a lot quicker than any other type of generation. This will help jumpstart electrifying and decarbonising New Zealand businesses and households at scale ensuring the country is on track to be net zero by 2050.”
Christopher Curtain, Senior Managing Director and Head of Asia-Pacific, OMERS Infrastructure, said: “OMERS Infrastructure remains committed to OMERS’ ongoing investments in energy transition opportunities, strategically expanding our global portfolio. We are excited by the opportunity to invest in New Zealand’s energy sector, alongside Genesis, a like-minded partner. Together, we can advance our collective efforts to facilitate a shift to greener and more sustainable infrastructure.”
Daniel Sagi Vela, FRV Group global CEO, said: “These three new sites are the testament to FRV Group’s determination to become the leading developer of solar generation in New Zealand. Securing these lands puts us well on track for the realization of our vision to develop 500MW of solar capacity over the next five years in New Zealand. Alongside our partner Genesis Energy, we are committed to supporting sustainable infrastructure development in New Zealand as part of our global efforts towards a cleaner future for all.”
In late 2021, FRV Australia and Genesis Energy forged a joint venture with the aim of cultivating up to 500MW of solar capacity within New Zealand over the ensuing five years. This initiative is projected to yield approximately 750GWh annually, a substantial amount capable of energizing 100,000 households or facilitating the operation of 185,000 electric vehicles throughout a year. The latest announcement regarding the trio of new sites aligns with the advancements made on a sizable solar installation in the vicinity of Lauriston on the Canterbury Plains. Upon reaching operational status, the Lauriston Solar Farm is poised to generate power equivalent to that needed by 9,800 households.
Holding a noteworthy position in the realm of solar development, asset ownership, and renewable energy platforms, FRV Australia boasts a portfolio of over 1GW in photovoltaic assets. These assets are either developed, constructed, or currently under construction across ten distinct projects, amounting to a comprehensive project investment exceeding 2 billion dollars spread across various states. Leveraging its global proficiency and familiarity with technology and supply chains, the company is well-equipped to manage the installation, commissioning, and ongoing operations of these sites.