Spain-based Fotowatio Renewable Ventures (FRV) is planning to develop 2 GW of photovoltaic (PV) solar projects, battery energy storage systems (BESS) and renewable installations in the next four years in Germany in a move that marks its entry into Europe's largest solar market.
The company, owned by Saudi Arabia-based family-run diversified company Abdul Latif Jameel, provides renewable energy solutions to commercial and industrial customers, including the construction and operation of solar farms, rooftop installations and large-scale battery storage systems.
In Germany, FRV expects strong demand for its products, especially among organisations and companies in the agricultural sector. Overall, it plans to deliver 2 GW of its solutions to 790,000 households which would offset 948,000 tons of carbon dioxide emissions per year.
To support the expansion in the new market, the business opened in December an office in Munich which will serve as a headquarters for its local operations. More regional offices will be opened in future.
Most recently, a unit of the company achieved a financial close on a 300-MWp solar project in New South Wales, Australia.
Anna is a DACH expert when it comes to covering business news and spotting trends. She has also built a deep understanding of Middle Eastern markets and has helped expand Renewables Now's reach into this hot region.