FRV is entering Finland’s market by partnering with Will & Must to develop 600 MW of solar projects. The move marks FRV’s debut in the Nordic region and aligns with Will & Must’s goal of preparing 1,000 hectares of land for solar use by 2027.
Focus on PV Projects
Fotowatio Renewable Ventures (FRV) — a subsidiary of Abdul Latif Jameel Energy — has partnered with Will & Must, a Finnish renewables company, to develop 600MW of solar projects.
According to a report on FRV’s website, the framework development deal between the two companies focuses on a 600 MW portfolio of PV projects. Currently in various stages of planning, these projects are expected to be ready for construction between 2024 and 2026. This collaboration underscores the Nordic countries’ resolve to expand photovoltaics alongside their established wind-powered energy systems.
Impact on Finnish Photovoltaic Market
Andrea Fontana, Managing Director of FRV Europe, expressed enthusiasm for Finland’s promising solar energy market, highlighting the company’s eagerness to contribute its international expertise. He anticipates high demand for FRV’s services in this favorable market.
“We are excited to share our international knowledge and skills in a fascinating new market like Finland. This is one of the most promising sectors for renewable energy, and we are confident that our offerings will be in high demand,” Fontana stated.
FRV has been expanding its global footprint by constructing over 50 renewable energy plants worldwide. With a 24 GW project pipeline, the company aims to introduce renewable energy solutions not just in Finland but also in markets like Italy, Spain, Greece, Poland, and Chile.
Accelerating Nordics’ Transition to Green Energy
The founding team of Will & Must welcomed the collaboration with FRV as an opportunity to accelerate Finland’s transition to green energy and reduce emissions. They emphasized that FRV’s extensive experience with large-scale projects will greatly benefit the emerging Finnish photovoltaic market.
Matti Parpala, Mikke Vepsäläinen, and Anssi Voipio, the founding team of Will & Must, stated: “We are excitedly looking forward to cutting Finland’s emissions and rapidly accelerating the overall green transition together with FRV, which brings an unparalleled amount of experience in large-scale projects to the emerging Finnish photovoltaic market.”
Nordic nations are increasingly committed to photovoltaics as a complement to their current energy systems, which are primarily powered by wind. The Nordic region is particularly well-suited for this expansion, benefiting from ample land, longer summer days, and the light-reflecting ability of snow, which amplifies solar radiation.
Furthermore, photovoltaic solar cells perform better in colder climates. As a leader in clean energy, Finland is an especially appealing market because the majority of its electricity is already produced without fossil fuels.
Other Projects from FRV
Image: Collected
In March 2024, FRV partnered with Harmony Energy to launch the Clay Tye battery energy storage system in Essex, UK. This 99 MW/198 megawatt-hour system can power 300,000 homes for two hours and uses Tesla Megapack batteries and Autobidder AI software.
Connecting the batteries to the UK Power Networks distribution network allows for energy capacity sharing and improves project management. This setup enables the storage of renewable energy, adding flexibility during peak demand periods.
Felipe Hernández, FRV’s Chief Innovation Officer, emphasized that the Clay Tye project is a milestone in the company’s expansion within the UK energy storage market. He added that the battery system strengthens the long-term sustainability of FRV’s business model and reaffirms its leadership position in the market.
FRV’s collaboration with Will & Must to develop 600 MW of solar projects in Finland marks a significant step in its expansion into the Nordic region. This partnership not only underscores both companies’ commitment to advancing renewable energy initiatives but also demonstrates the growing importance of photovoltaics in complementing wind-driven energy systems.
