– FRV, part of Abdul Latif Jameel Energy, has entered the Finnish photovoltaic market with local operator Will & Must to develop 600 MW of PV projects.
– The move into Finland is FRV’s first in a Nordic country, coinciding with Will & Must’s plan to develop 1000 ha. of solar land by 2027.
– Nordic countries are adopting PV as a complement to wind energy, and Finland’s commitment to clean energy makes it an attractive market for FRV’s growth strategy.
Fotowatio Renewable Ventures (FRV), a part of Abdul Latif Jameel Energy, has entered the Finnish photovoltaic (PV) market in partnership with local operator Will & Must. Their agreement aims to develop 600 MW of PV projects in Finland up to the ‘ready-to-build’ phase. This marks FRV’s first venture into a Nordic country, aligning with Will & Must’s goal to have 1000 ha. of land dedicated to solar projects by 2027. The 600 MW pipeline consists of projects at varying planning stages, expected to reach the ‘ready-to-build’ phase between 2024 and 2026.
Nordic countries are increasingly turning to PV to supplement their wind-driven energy systems. The region offers ample land and unique solar irradiation conditions, with more daylight hours in summer, intense solar irradiation, and snow’s reflective properties enhancing irradiation. PV efficiency also improves in cold climates. Finland, already a leader in clean energy, is an attractive market for FRV. The company has been accelerating its growth strategy, constructing renewable energy plants across various countries and having a pipeline of over 24 GW in projects around the world.
For more renewable energy news and technical insights, readers can refer to the latest Energy Global magazine issue. The magazine covers battery storage solutions, renewables in Europe, electrical infrastructure, turbine monitoring, battery technology, and more technical articles in the Spring 2024 edition.