• Agreement marks first entry to the Nordic market for FRV.
  • FRV and Will & Must will develop a pipeline of several photovoltaic projects that are expected to enter the "ready to build" phase within three years.

Finland: Fotowatio Renewable Ventures (FRV), a leading developer of sustainable energy solutions and part of Jameel Energy, has announced its entry into the Finnish market with local operator Will & Must.

Together, FRV and Will & Must will develop a pipeline of several photovoltaic projects which will have a total capacity of 600 MW. These projects are expected to enter the "ready to build" phase over a period of three years, between 2024 and 2026.

FRV's expansion to Finland marks its first entry to the Nordic countries and highlights its commitment to building a more sustainable future by partnering with industry experts, such as Will & Must, to introduce innovative renewable projects that support the clean energy transition. It follows FRV’s expansion to the German market last year, where it aims to provide 800,000 homes with solar energy.

Andrea Fontana, Managing Director of FRV Europe said: “We are delighted to offer our international experience and expertise in promising new markets, such as Finland. This is one of the most promising markets for renewable energy and we are convinced that our offerings will be in high demand.”

Matti Parpala, Mikke Vepsäläinen and Anssi Voipio, the founding team of Will & Must commented: “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. 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.”

Nordic countries are increasingly committed to photovoltaics and solar power as a complement to their existing, largely wind-driven energy systems. The region offers a vast amount of available land in addition to solar irradiation conditions and more daylight hours on summer days. It also benefits from a greater intensity of solar irradiation and the reflective properties of snow which acts as a multiplying factor for this irradiation. Furthermore, the efficiency of photovoltaic solar cells improves in cold environments. Finland is also 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, the UK, Chile, Brazil, Australia and New Zealand.

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About Jameel Energy

Jameel Energy, previously known as Abdul Latif 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

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

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This document may contain forward-looking statements.  Forward-looking statements are statements with respect to matters that are not historical fact, such as future results, events, activities, developments or circumstances or the beliefs, plans or expectations of the Abdul Latif Jameel entities or their respective management.  Forward-looking statements can often be identified by the use of words such as "expect", "project", "anticipate", "plan", "estimate", "believe", "predict", "intend", "potential 'possible', 'likely', 'probable', 'probable', 'forecast', 'guidance', 'outlook', 'objective', 'may', 'will', 'could', 'should' or 'might' or other similar terms or phrases.  However, the absence of such words does not mean that a particular statement is not a forward-looking statement.

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