FRV to develop energy storage projects globally

December 4, 2019

  • The Company’s strategic plan includes long-term investments in the development of battery energy storage projects to support the increasing penetration of renewables in the energy mix.
  • The first project will be carried out with British developer Harmony Energy, supporting the development of what will be one of the largest battery energy storage plants in the South of the UK. 
  • The scheme will see a system of lithium-ion batteries with a combined capacity of 15 MWh connect to the Southern Electric Power distribution network, with the capability to store energy and provide flexibility to the grid.

 

Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy and a leading global developer of renewable energy projects, has announced its first battery project as a part of its long-term investment plan to develop energy storage projects globally.

 

The plan includes long-term investments in battery energy storage projects that play a central role in the market, supporting the increasing penetration of renewables in the global energy mix.

 

FRV’s first battery energy storage project is located at Holes Bay, in Dorset, United Kingdom, in collaboration with the British developer Harmony Energy, which builds, owns and operates renewable energy assets across the UK.

 

The Holes Bay project will be comprised of lithium-ion batteries with a combined capacity of 15 MWh, connected to the Southern Electric Power distribution network, with the capability to store energy and provide flexibility to the grid.

 

Holes Bay will be a first-of-a-kind development in the UK and Europe, utilising cutting-edge control and storage technologies. Construction will start in January 2020, with commissioning expected within three months, for what will be one of the largest battery energy storage systems in the South of England.

 

Harmony Energy, with the backing of FRV, has also conditionally pre-qualified 300 MW of new battery energy storage systems in the UK Capacity Market, with this pre-qualified capacity making up 16% of the total 1.8 GW battery energy capacity. The UK has been a pioneer in deploying these systems in a competitive and open market, creating perfect conditions for integrators, developers and investors to embrace the benefits of incorporating these clean technologies into the energy mix. FRV believes investing in low-carbon initiatives in the United Kingdom is essential to support the Country´s ambitious 2030/50 decarbonisation targets and believes battery energy storage will provide the capacity and flexibility National Grid needs.

 

Felipe Hernandez, Managing Director Engineering and Asset Management of FRV, notes: “FRV is already collaborating with governments, regulators, and partners around the world to lay the foundations for a new energy model. Energy storage plays a central and critical role to fully realise the power of renewable energy, and FRV acknowledges the value of this technology as a key element to achieve a decarbonised society.”

 

“The Holes Bay project will be the first in a strategic energy storage pipeline to be launched both globally and within the UK. We are pleased to join efforts together with Harmony Energy, demonstrating the economic and technical feasibility of the battery energy storage system.”

 

Peter Kavanagh, CEO of Harmony Energy, said “This is a hugely significant project for Harmony, because it is the first in a large pipeline of utility-scale battery storage plants in the UK, and we’re looking forward to working with FRV to bring Holes Bay forward in the new year”.

 

“Wind and solar projects remain key but battery storage is the missing link in the UK’s renewable energy strategy, both in terms of controlling grid frequency and providing backup during periods of peak demand and supply. We have over 500 MW of battery energy storage assets construction-ready and with the backing of FRV, we have also pre-qualified 300 MW of new battery energy storage systems into the UK’s Capacity Market. It’s a critical time for battery energy storage in the UK and we are pleased to be at the forefront of development.”

 

Fady Jameel, Deputy President and Vice Chairman, Abdul Latif Jameel International, further commented: “Abdul Latif Jameel Energy, through our pioneering renewables operation FRV, continues to advance a sustainable energy future through innovation and strategic partnerships, progressing the economic viability of renewables and eventually arresting the impacts of climate change. We are proud to partner with Harmony Energy and be part of the ground-breaking development of the UK’s strategic sustainable energy programme.”

 


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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.

Scott Mackin

Managing Partner and Co-President, Denham Capital

We’ve greatly enjoyed our collaborative relationship with the team and look forward to seeing FRV continue its success in the future.

Javier Esquivias

General Deputy Director, Elecnor

FRV has always been a pioneer. From the first time they came to us 10 years ago, they really made an impact with their vision and La Magascona, which was a project of a huge magnitude at that time.