Fotowatio enters Finnish renewables market
Published by Theodore Reed-Martin,
Editorial Assistant
Energy Global,
Fotowatio Renewable Ventures (FRV), part of Jameel Energy, has announced its entry into the Finnish photovoltaic (PV) market with local operator Will & Must. Both parties have established a framework development agreement with the objective of developing 600 MW of PV projects up to the ‘ready-to-build’ phase.
FRV’s arrival in Finland marks the company’s first foray into a Nordic country, which in this case coincides with Will & Must’s plans to reach 1000 ha. of land dedicated to solar ready for deployment by 2027.
The 600 MW figure, meanwhile, corresponds to a pipeline of several projects at different stages of planning, which are expected to enter the ‘ready-to-build’ phase between 2024 and 2026.
Nordic countries are increasingly committed to PV as a complement to their existing, largely wind-driven energy systems. The Nordic region offers a vast amount of available land, coupled with unique solar irradiation conditions: more daylight hours on summer days, greater intensity of solar irradiation and the reflective properties of snow as a multiplying factor for this irradiation. Furthermore, the efficiency of PV solar cells improves in cold environments. Finland is also particularly attractive as a pioneer in clean energy, as its electricity generation is already mostly fossil-free.
As part of its dedication to leading the global transition to a more sustainable energy future, FRV has accelerated its growth strategy in recent years with the construction of more than 50 renewable energy production plants across Spain, Australia, Mexico, Italy, the UK, Armenia, and Jordan. Additionally, FRV has a pipeline of more than 24 GW)of new projects coming online soon in Finland and other markets such as Italy, Spain, Greece, Poland, the UK, Chile, Brazil, Australia, and New Zealand.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Spring 2024 issue
The Spring 2024 issue of Energy Global starts with a guest comment from Field on how battery storage sites can serve as a viable solution to curtailed energy, before moving on to a regional report from Théodore Reed-Martin, Editorial Assistant, Energy Global, looking at the state of renewables in Europe. This issue also hosts an array of technical articles on electrical infrastructure, turbine and blade monitoring, battery storage technology, coatings, and more.
Read the article online at: https://www.energyglobal.com/solar/20052024/fotowatio-renewable-ventures-enters-finnish-renewables-market/
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