Focus on PV Projects
Fotowatio Renewable Ventures (FRV) — a subsidiary of Abdul Latif Jameel Energy — has cooperated with Will & Must, a Finnish renewables company. They intend to create 600MW of solar projects together, marking FRV's first presence in the Nordic region. This move is consistent with Will & Must's goal of preparing 1,000 hectares of land for solar use by 2027, underscoring the Nordic countries' commitment to increasing photovoltaics alongside their wind-powered energy systems.
According to a report on FRV ‘s website, the framework development deal which FRV and Will & Must have entered focuses on PV projects, with a 600MW portfolio of projects in various stages of planning that are projected to be ready for construction between 2024 and 2026. This collaboration underlines the Nordic countries' resolve to expand photovoltaics alongside their wind-powered energy systems.
Impact on Finnish Photovoltaic Market
Expressing enthusiasm for the promising solar energy market in Finland, Andrea Fontana, the managing director of FRV Europe highlighted their eagerness to contribute their international experience and expertise. They anticipate high demand for their services in this favourable market.
“We are excited to share our international knowledge and skills in a fascinating new market like Finland. This is one of the most promising sectors for renewable energy, and we are confident that our offerings will be in high demand,” Fontania stated.
FRV has been expanding its global presence by constructing over 50 renewable energy plants worldwide. With a new project pipeline totalling 24GW, FRV aims to introduce additional renewable energy solutions not only in Finland but also in markets such as Italy, Spain, Greece, Poland, and Chile.
Accelerating Nodics Transition to Green Energy
The founding team of Will & Must expressed their excitement about collaborating with FRV to accelerate Finland's transition to green energy and reduce emissions. They emphasised FRV's extensive experience in large-scale projects, which they believe will greatly benefit the emerging Finnish photovoltaic market.
Matti Parpala, Mikke Vepsäläinen, and Anssi Voipio, the founding team of Will & Must, stated: "We are excitedly looking forward to cutting Finland's emissions and rapidly accelerating the overall green transition together with FRV, which brings an unparalleled amount of experience in large-scale projects to the emerging Finnish photovoltaic market.
Nordic nations are becoming more and more devoted to photovoltaics as an addition to their current energy systems, which are primarily powered by wind. In addition to having a large amount of land available, the Nordic region benefits from unusual solar radiation conditions, such as longer summer days with more sunshine, higher solar radiation intensity, and snow's ability to reflect light, which multiplies the effects of solar radiation.
In addition, photovoltaic solar cells perform better in colder climates. Being a leader in clean energy, Finland is especially appealing because the majority of its electricity is currently produced without the use of fossil fuels.
Other Projects from FRV
Image: Collected
In March 2024, FRV partnered with Harmony Energy to activate the Clay Tye battery energy storage system in Essex, UK. This system — with a capacity of 99MW/198 megawatt hours — can power 300,000 homes for two hours. It utilizes Tesla Megapack batteries and Autobidder AI software for efficient operation.
This technology facilitates energy capacity sharing and improves project management by connecting batteries to the UK Power Networks distribution network. It enables the storage of renewable energy, thereby enhancing flexibility during peak demand periods.
Felipe Hernández, FRV's chief innovation officer, emphasized the significance of the Clay Tye project as a milestone in their expansion within the UK energy storage market. He highlighted how this battery energy storage system strengthens their business model's long-term sustainability and reaffirms their leadership position in the market.
FRV's collaboration with Will & Must to develop a 600MW solar project in Finland marks a significant step in their expansion into the Nordic region. This partnership underscores both companies' commitment to advancing renewable energy initiatives and demonstrates the growing importance of photovoltaics in complementing wind-driven energy systems.