{"id":75809,"date":"2023-01-31T02:00:53","date_gmt":"2023-01-31T02:00:53","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/01\/31\/abdul-latif-jameels-frv-reaches-financial-close-on-british-bess-facilities\/"},"modified":"2023-01-31T02:00:53","modified_gmt":"2023-01-31T02:00:53","slug":"abdul-latif-jameels-frv-reaches-financial-close-on-british-bess-facilities","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/01\/31\/abdul-latif-jameels-frv-reaches-financial-close-on-british-bess-facilities\/","title":{"rendered":"Abdul Latif Jameel\u2019s FRV reaches financial close on British BESS facilities"},"content":{"rendered":"

<\/a> Abdul Latif Jameel Energy\u2019s FRV adds more UK battery storage projects to <\/strong>portfolio<\/strong>:<\/strong> Spain-headquartered Fotowatio Renewable Ventures (FRV) reached financial close on two battery energy storage (BESS) facilities in the UK with a combined power output of 133 MW, according to a company statement<\/a>. FRV \u2014 a subsidiary of Saudi solar PV developer Abdul Latif Jameel Energy and Environmental Services<\/a> \u2014 separately acquired two British BESS projects with a combined capacity of up to 100 MW from UK utility scale solar and battery project developer RE Projects Development last October<\/a>.<\/p>\n

The details:<\/strong> One of the BESS facilities will have a power capacity of 99 MW and is set to be the UK\u2019s largest BESS unit once operational, according to the statement. The other storage plant will have an output volume of 34 MW. The timeline of the facilities\u2019 construction has not been disclosed.<\/p>\n

Who\u2019s footing the bill?<\/strong> FRV raised a total of USD 75 mn \u2014 60% of the projects\u2019 cost \u2014 to fund both battery storage units from investment banking firm Natixis CIB UK.<\/p>\n

FRV\u2019s global renewables shopping spree seems to be continuing in 2023:<\/strong> FRV also reached financial close<\/a> on its 300 MWac Walla Walla solar farm in New South Wales, and acquired a majority stake in Greek renewables company Wootis SA\u2019s 600 MW BESS project for an undisclosed sum earlier in November<\/a>. The company also invested EUR 10 mn German solar-as-a-service provider Ecoligo in a Series A round in October<\/a>, fueling Ecoligo\u2019s expansion of its operations \u2014 including financing, planning, construction, and maintenance of solar projects.<\/p>\n","protected":false},"excerpt":{"rendered":"

Abdul Latif Jameel Energy\u2019s FRV adds more UK battery storage projects to portfolio: Spain-headquartered Fotowatio Renewable Ventures (FRV) reached financial close on two battery energy storage (BESS) facilities in the UK with a combined power output of 133 MW, according to a company statement. FRV \u2014 a subsidiary of Saudi solar PV developer Abdul Latif […]<\/p>\n","protected":false},"author":1,"featured_media":75810,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[237],"tags":[515,236,166,11,42],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-75809","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-battery-storage","tag-abdul-latif-jameel","tag-battery-storage","tag-bess","tag-enterpriseclimate","tag-solar-energy","wpautop","entry"],"acf":{"mongo_id":"78bca220-56a9-451b-adc6-1abaf9033c2e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/1\/952.jpg","photo_position":"above","related_issue":[75799],"teaser":"","voice_url":""},"yoast_head":"\nAbdul Latif Jameel\u2019s FRV reaches financial close on British BESS facilities - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/31\/abdul-latif-jameels-frv-reaches-financial-close-on-british-bess-facilities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Abdul Latif Jameel\u2019s FRV reaches financial close on British BESS facilities\" \/>\n<meta property=\"og:description\" content=\"Abdul Latif Jameel Energy\u2019s FRV adds more UK battery storage projects to portfolio: Spain-headquartered Fotowatio Renewable Ventures (FRV) reached financial close on two battery energy storage (BESS) facilities in the UK with a combined power output of 133 MW, according to a company statement. 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