1/17/2018 Abdul Latif Jameel Energy acquires solar plants developer Fotowatio

8 APRIL 2015 NEWS

Abdul Latif Jameel Energy acquires solar plants

developer Fotowatio
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Abdul Latif Jameel Energy and

Environmental Services has acquired solar
power plants developer Fotowatio Renewable
Ventures from Denham Capital, Qualitas
Venture Capital, and Founder shareholders
for an undisclosed amount.

The acquisition forms a part of Abdul Latif Jameel

Energy’s multi-year energy strategy and follows the
joint venture partnership announced between the
two companies in January 2014.

This includes Fotowatio’s current global solar

project pipeline of approximately 3.8GW.

Fotowatio’s pipeline comprises a 24MW fully

operational plant Royalla in Australia, 370MW of
plants under construction including 65MW at La
Jacinta in Uruguay, 70MW at Moree in Australia, as
well as five further plants totalling 175MW in Brazil,
and one plant of 60MW in Egypt.

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1/17/2018 Abdul Latif Jameel Energy acquires solar plants developer Fotowatio

A
"FRV brings
operational in-market
solar PV development
expertise with proven
project financing and
internal engineering
and procurement
competencies."
further 3.4GW of solar projects are currently under
different stages of development.

Abdul Latif Jameel Energy and Environmental

Services CEO Roberto de Diego Arozamena said:
"Our acquisition of FRV strengthens our position
within the solar PV sector with the goal to become
an independent power producer.

"Our decision to acquire FRV was based on their

specific set of skills, pioneering position in solar PV
power plant development, and their technology
independent approach.

"FRV brings operational in-market solar PV

development expertise with proven project
financing and internal engineering and
procurement competencies. This acquisition also
strengthens our market position as we are now able
to bid for additional business from a more
comprehensive and developed platform."

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1/17/2018 Abdul Latif Jameel Energy acquires solar plants developer Fotowatio

Abdul Latif Jameel Energy and Environmental

Services will retain the Fotowatio Renewable
Ventures, as well as the latter’s complete workforce
of approximately 70 experts in all fields of solar PV.

Since 2006, Fotowatio Renewable Ventures had

developed and divested approximately 1.7GW of
solar power mainly from projects in the US, Spain,
and Italy.

Image: Fotowatio Renewable Ventures has so far

developed and divested approximately 1.7GW of
solar power mainly from projects in the US, Spain
and Italy. Photo: courtesy of Fotowatio Renewable
Ventures.

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