Our History

Over 10 Years Delivering Solutions

Since the founding group was created in 2006, 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.

FRV TIMELINE

Leyenda_Timeline_English

  • 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 ALJ 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

  • FRV enters the Mexican Market with 300 MW

  • 2017

  • PPA signed in Australia: 125 MWp Lilyvale

  • Moree Solar Farm opening

  • Sale of La Jacinta Solar Plant in Uruguay

  • Financial Close and beggining of construction of Mafraq I and Mafraq II in Jordan

  • Sale of Clare Solar Plant in Australia

  • Financial Close of Safawi in Jordan

  • Financial Close of Lilyvale Solar Farm

  • First hybrid solar-wind Project and expansión to Chile

  • Financial Close of Potosí Solar in Mexico

  • 2018

  • Entry in Armenia with 55 MW

  • Award of 5th project in Australia (85 MW ac)

  • Opening of Andhra Pradesh solar farm in India

  • Financial Close of La Solanilla solar farm in Spain

José Benjumea

Founder, FRV

We believe that our success needs to have a positive impact in those regions where we operate and that education is the best channel to meet this goal, and to improving the future of those communities that embrace our projects

Rafael Benjumea

Founder, FRV

At FRV we have a strong commitment to the economic and social development of the markets and communities in which we operate, and we are pleased to be able to deliver on this commitment through this innovative program.

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.

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