Fotowatio Leads Energy Storage Push with Gnarwarre BESS
Deal News | Aug 06, 2025 | White & Case LLP
Global law firm White & Case LLP has advised Fotowatio Renewable Ventures (FRV) Australia on the development and financing of a significant battery energy storage system (BESS) project near Geelong, Victoria. The Gnarwarre BESS is a 250 MW/500 MWh facility, marking FRV Australia's largest battery project to date. The project leverages an A$1.2 billion portfolio financing facility established in July 2024. This facility is supported by Westpac Banking Corporation and four other key financial institutions. The project also benefits from a A$15 million grant from the Australian Renewable Energy Agency (ARENA). The advising team from White & Case was led by partners Brendan Quinn and Candice Ota, with contributions from their Melbourne and Sydney offices. The Gnarwarre BESS will provide critical energy support during peak demand times and act as a counterbalance to energy oversupply, contributing significantly to Australia's renewable energy capabilities.
Sectors
- Renewable Energy
- Legal Services
- Finance
Geography
- Australia – The Gnarwarre BESS project is located in Victoria, Australia, and involves Australian financial institutions and government grants.
Industry
- Renewable Energy – The article revolves around the development of a battery energy storage system, a key component in the renewable energy industry.
- Legal Services – White & Case LLP, a law firm providing legal advisory for the financing of the energy project, highlights the legal services industry connection.
- Finance – The project involves significant financial transactions, including portfolio financing and grants, making the finance industry relevant.
Financials
- A$1.2 billion – The total amount for the portfolio financing facility established for the project.
- A$15 million – Grant amount awarded by ARENA for the project.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fotowatio Renewable Ventures (FRV) Australia | Target Company | Company | A renewable energy company developing the Gnarwarre battery energy storage system. |
| White & Case LLP | Legal Advisor | Company | A global law firm advising FRV Australia on the project development and financing. |
| Westpac Banking Corporation | Financial Institution | Company | One of the financial institutions involved in providing the financing facility for the project. |
| United Overseas Bank | Financial Institution | Company | Part of the syndicate providing the loan facility for the Gnarwarre BESS project. |
| Intesa Sanpaolo | Financial Institution | Company | Financial institution in the syndicate supporting the financing of the project. |
| KfW IPEX-Bank | Financial Institution | Company | Another financial institution in the syndicate providing financing for the BESS project. |
| Export Development Canada | Financial Institution | Company | A participant in the financial syndicate providing the loan facility for FRV's BESS project. |
| Australian Renewable Energy Agency (ARENA) | Grant Provider | Government | A government agency providing a $15 million grant as part of the project funding. |