In 2016, we celebrate our tenth anniversary. Since our foundation, the entrepreneurial spirit of our founders, which has underpinned our dynamic growth, is still at the core of our business today. This spirit, combined with our experience, technical expertise and commitment to delivery, will continue to drive our business in the future.

We have built a solid reputation as a highly professional and credible business amongst our key stakeholders groups, including investors and governments.

Thanks to this reputation, we have received consistent support for our projects, including support for innovative proposals which have broken new ground

The results we have achieved over the last decade are a source of pride for us, and they serve as an encouragement for us to continue to face any challenges that the future may bring with optimism.



  • 2006
  • The foundation Group is created

  • First project in construction: La Magascona (Spain), with 23 MWp

  • Qualitas Venture Capital (QVC) backs the development of the company and co‐invests with the founding team in a number of solar photovoltaic (PV) energy projects.

  • 2007
  • FRV becomes the first developer of large-scale solar energy projects in Spain

  • 2008
  • FRV develops its first portfolio of energy projects in Europe

  • International expansion to Italy and the USA

  • Fundraising round is completed with two institutional investors: General Electric Energy Financial Services (GE EFS) and Grupo Corporativo Landon

  • 2009
  • First pipeline of solar energy projects in the USA

  • Acquisition of MMA Renewable Ventures, a leading USA-based solar energy developer

  • 2010
  • FRV becomes the first solar PV Independent Power Producer (IPP) in the USA

  • First FRV project commences, acting as developers and EPC (Engineering, Procurement, Construction)

  • USA-based business sold to SunEdison

  • 2011
  • FRV becomes a leading global Independent Power Producer (IPP) for PV energy

  • 29 MWp sold in Italy to Munich Re

  • Sale of Concentrated Solar Power (CSP) plants under construction to ACS/OHL

  • Second phase of FRV’s international expansion commences, with projects explored in Australia

  • 2012
  • First solar PV project pipeline developed in Australia

  • Leading PV pipeline portfolios developed in Australia and Africa

  • A third fundraising round is completed with Denham Capital Management LP (Denham)

  • 2013
  • First solar PV pipeline developed in Latin America

  • The largest Australian solar PV project, Royalla solar farm, reaches financial close

  • Projects in Australia (70 MWp) and Latin America (65 MWp) begin construction

  • 2014
  • FRV becomes a leading solar energy developer in emerging markets

  • 24 MWp becomes fully operational in Australia

  • Significant global expansion of the project pipeline commences

  • 2015
  • FRV acquired by Abdul Latif Jameel Global Energy DMCC in April 2015

  • 65 MWp becomes operational in Latin America

  • New Power Purchase Agreements (PPA) signed in Brazil and Jordan

  • 2016
  • Sale of 24 MWp from Royalla solar farm, Australia

  • 130 MWp in Jordan begins construction

  • New PPA signed in Australia: 70 MWp Moree solar farm and 100 MWp Clare solar farm

  • Financial close of 135MWp in India

Gianfranco Carassale

Lead Investment Officer, Inter-American Investment Corporation (IIC)

Despite their size, they have been competing closely in bids with firms, which had different structures and abilities. This certainly shows their ability to be a strong market competitor. FRV has been a pioneer in market segments where no one had been before, and that has a lot of value.

Javier Esquivias

General Deputy Director, Elecnor

They are always a step ahead, and not just in the technical aspect. In addition, they have always been very rigorous and reliable. When they commit to a project, they always go all the way to the end.

Gianfranco Carassale

Lead Investment Officer, Inter-American Investment Corporation (IIC)

The pioneer spirit is something that has always characterized Rafael and José’s team, from their decision to enter the solar energy business to their expansion to new markets with an aggressive strategy able to capture them.