FRV Enters Finnish Market with 600 MW Solar Project

Fotowatio Renewable Ventures (FRV), a part of Jameel Energy, has announced its entry into the Finnish market through a strategic partnership with local operator Will & Must. 

The companies have established a framework development agreement aimed at developing 600 MW of photovoltaic projects, which will be advanced to the 'ready to build' phase.

This initiative marks FRV’s first venture into a Nordic country, aligning with Will & Must’s plan to dedicate 1,000 hectares of land for solar deployment by 2027. The projects, at various stages of planning, are expected to reach the 'ready to build' phase between 2024 and 2026.

The Nordic region, with its extensive land availability and unique solar irradiation conditions, is increasingly embracing photovoltaics as a complement to its wind-driven energy systems. 

Finland, in particular, is an attractive market due to its existing mostly fossil-free electricity generation and the improved efficiency of solar cells in cold environments.

FRV has accelerated its global growth strategy, constructing over 50 renewable energy plants across multiple countries, including Spain, Australia, Mexico, Italy, the UK, Armenia, and Jordan. The company has a pipeline of over 24 GW of new projects in Finland and other markets such as Italy, Spain, Greece, Poland, the UK, Chile, Brazil, Australia, and New Zealand.

"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," said Andrea Fontana, Managing Director of FRV Europe.

The founding team of Will & Must, Matti Parpala, Mikke Vepsäläinen, and Anssi Voipio expressed their enthusiasm for the collaboration stating, "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."