FRV breaks into Nordics with plans to develop 600 MW of PV projects in Finland

Fotowatio Renewable Ventures (FRV), part of Abdul Latif 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.