FRV announces the opening of its first solar project in India

October 22, 2018

  • Andhra Pradesh will power approximately 35,000 households, while avoiding the annual emission of 160,000 tons of greenhouse gases
  • The two plants, with a total area of 100 hectares and located near the city of Bangalore

Fotowatio Renewable Ventures (FRV), a leading global developer of renewable utility-scale projects, announces the opening of the two solar plants that are part of the 138 MW dc Andhra Pradesh Solar Farm, in India. This project is the first large-scale solar installation developed by FRV in the country. The company was awarded the project in a reverse auction conducted by the Solar Energy Corporation of India (SECI) in 2016. The auction was part of the National Solar Mission program, launched by the Government of India, to meet its renewable targets and reach 100 GW of solar capacity installed in the country by 2022.

The two plants of Andhra Pradesh, have a total area of 100 hectares and is located in the Ananthapuramu Solar Park, 200 km from the city of Bangalore.

The two plants will power approximately 35,000 Indian homes, while avoiding the emission of 160,000 tons of CO2 per year. In addition, during its lifecycle, the project is expected to provide permanent and temporary employment.

“This project demonstrates the commitment of FRV in the Asia-Pacific region and represents a big step in achieving FRV’s strategy to develop and build renewable power generation assets” affirms Tristán Higuero, FRV´s COO East.

According to Jose Luis Blasco, FRV’s Managing Director in India, “The renewable industry in India has a clear growth potential. As developers of renewable energy projects, we want to bring our extensive global knowledge and expertise to the development of this type of infrastructure, with the aim of promoting the generation of clean and affordable energy that contributes to the country’s sustainable growth”.


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.

Gianfranco Carassale

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

They are known for their expertise in solar technology as well as for their deep knowledge of the process, the financial structure and the energy market as a whole. This enables them to be extremely competitive. This way they reach efficiency and maximize profits, developing economically viable projects even at very tight and ambitious price targets.

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.