20 MAY 2024
PRESS RELEASE
Fotowatio Renewable Ventures (FRV), part of Jameel Energy, and one of the world’s leading renewable energy companies, has announced its entry into the Finnish market with local operator Will & Must. Both parties have established a framework development agreement with the objective of developing 600 MW of photovoltaic 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 1,000 hectares 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 photovoltaics 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 photovoltaic 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 United Kingdom, Armenia, and Jordan. Additionally, FRV has a pipeline of more than 24 gigawatt (GW) of new projects coming on stream soon in Finland and other markets such as Italy, Spain, Greece, Poland, UK, Chile, Brazil, Australia and New Zealand.
Andrea Fontana, Managing Director of FRV Europe said: “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.”
Matti Parpala, Mikke Vepsäläinen and Anssi Voipio, the founding team of Will & Must, said: “We are excitedly looking forward to cutting Finland’s emissions and rapidly boosting the overall green transition together with FRV, which brings to the emerging Finnish photovoltaic market an unparalleled amount of experience in large-scale projects. We also strive to develop the projects in close cooperation with different stakeholders. This way, we hope to demonstrate the benefits to local landowners and communities, which in turn should ensure social acceptance so that the projects can be efficiently constructed.”
About FRV
FRV, part of Jameel Energy, is a leading global renewable energy development company. In line with our ambition to continue leading the global transition to a more sustainable energy future, FRV has evolved from being just a developer to becoming an independent power producer. We aim to be the world’s leading green energy and infrastructure platform.
For more information, please visit: frv.com
About Will & Must
Will & Must, an independent Finnish developer, was founded in 2022 by three founders with the purpose of contributing to the green transition in the most Finnish way; by talking less and doing more. The company’s main activity is renewable energy development, including project and stakeholder management. The company aims to reach 1,000 hectares of land dedicated to solar ready for deployment by 2027. For more information, please visit: willmust.fi/en
About Jameel Energy
Jameel Energy was established in 2012, and is now a leading independent power producer, and a premier service provider in the renewable energy sector, with interests in 16 countries around the world with capabilities in renewable energy, including solar PV, wind, waste-to-energy and environmental solutions, including desalination, water and wastewater treatment. For more information, please visit: alj.com/energy
Press contact:
Guillermo Agulló: Guillermo.agullo@frv.com | +34 664 800 663
Pablo Ibañez: pibanez@kreab.com | +34 691430543
Claudia Vázquez: cvazquez@kreab.com | +34 653513089
Matti Parpala: matti.parpala@willmust.fi | +358 40 846 3847