Spain-headquartered global renewable energy company Fotowatio Renewable Ventures (FRV) has ventured into the upcoming European solar PV market of Finland with plans to develop 600 MW capacity. It also marks the company's foray into a Nordic nation.
Part of Dubai-based Abdul Latif Jameel Energy Group, FRV has found a local partner in Finland to explore the market. Finland's Will & Must has signed a framework development agreement to develop 600 MW capacity up to the ready-to-build (RTB) phase between 2024 and 2026.
FRV counts a global pipeline of over 24 GW of renewable energy projects, spread across Italy, Spain, Greece, Poland, the UK, Chile, Brazil, Australia and New Zealand, among others.
Currently, this 600 MW solar PV capacity is spread across several projects at different stages of planning in Finland. Utility-scale solar projects developer Will & Must aims to develop 1,000 hectares of land dedicated to solar power, ready for deployment by 2027.
"We are delighted to offer our international experience and expertise in a promising new market like Finland. This is one of the most promising markets for renewable energy and we are convinced that our offer will be in high demand," said FRV Europe's Managing Director Andrea Fontana.