OMERS Infrastructure buys 49% stake in FRV’s Australian renewables business

Facebook
Twitter
LinkedIn
Reddit
Email
An operational solar plant from FRV in Uruguay. Image: FRV.

Canadian pension investor OMERS Infrastructure has acquired a 49% interest in the Australian renewable energy platform of utility-scale solar developer Fotowatio Renewable Ventures (FRV).

The deal includes six operational and under construction solar assets with a combined capacity of 637MWdc as well as a development pipeline comprising around 2.7GWdc of solar plants and ~1.3GWh of battery energy storage systems.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

FRV, which was acquired by Saudi Arabian conglomerate Abdul Latif Jameel in 2015, said the deal will accelerate its growth in Australia with new projects and an expansion into new technologies.

FRV last year signed a power purchase agreement for a 90MW solar farm in the Australian state of New South Wales and has since started construction of its first hybrid solar-storage project, which is being built in Queensland and is expected to be operating at full capacity by early 2022.

The strong outlook for solar in Australia was recently revealed in research from the Australian Energy Market Operator, which said accelerating PV and wind deployment means much of the country could have sufficient renewables generation to meet 100% of consumer demand at certain times of the day by 2025.

For OMERS Infrastructure, the transaction sees it build its renewables portfolio following its 2018 acquisition of project developer Leeward Renewable Energy, which earlier this year acquired a 10GW utility-scale solar platform form First Solar. The investor also owns a 19.4% stake in Indian independent power producer Azure Power.

Read Next

October 8, 2025
The NSW Independent Planning Commission has granted planning approval for Potentia Energy's 500MW Tallawang solar-plus-storage project.
Premium
October 8, 2025
PV Talk: Smart Energy Council's Nigel Morris reflects on how Australia has become a global testbed for distributed solar and storage innovation.
October 8, 2025
University of Sydney scientists have created the largest and most efficient triple-junction perovskite-perovskite-silicon solar cell on record.
October 8, 2025
Australia's NEM achieved a new minimum operational demand record of 9,666MW, marking a 4% decrease from the previous record.
October 8, 2025
Frontier Energy plans to expand its Waroona Renewable Energy Project into a renewable energy precinct by 2031, targeting up to 1GW solar.
October 7, 2025
Rystad Energy has said that Queensland’s utility-solar assets were the best-performing solar PV power plants in September 2025.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK