Spain's Fotowatio Renewable Ventures Acquires Majority Stake in 600 MW Greek BESS

• The battery electrical power storage space system project is acquired from Wootis SA and is divided into a number of facilities spread out across Greece.
• All the BESS projects are well advanced in the development.

Sustainable energy remedies developer, Fotowatio Renewable Ventures (FRV), as part of Abdul Latif Jameel Energy, has introduced the purchase of a majority stake in a 600 MW battery power storage space systems (BESS) project from Wootis SA in Greece. The battery storage is split into numerous facilities spread out across Greece.

Madrid-headquartered FRV said in its official variation that the procurement marks the effective completion of the largest commercial procedure in the field of power storage space with battery systems in Greece. It notified that all the BESS projects are well advanced in the development.

It held that the endeavor will certainly take full advantage of FRV deep knowledge in the BESS modern technology as well as Wootis big experience in the Greek development environment. The projects will certainly enter into fruition in between the 4th quarter of 2023 and also 2nd quarter of 2024.

Along with the 600 MW of the first projects, the parties will likewise collaborate in new developments in the nation.

FRV Expansion Game

In October, FRV additionally acquired two new BESS projects having actually a combined capacity of as much as 100 MW in the UK from RE Projects Development Limited (REPD). The Li-ion BESS is topped one hectare and will be ready-to-build in the 3rd quarter of 2023.

Previously, the business had inked a deal worth a ₤ 1 billion with Tyler Hill Partners to develop RV TH Powertek Limited in order to establish, develop and operate 1GW/2GWh of BESS projects in the UK in the coming five years.

Wootis SA

Wootis SA is among the pioneering Greek firms in the renewable energy market. Specializing in property monitoring, it provides incorporated solutions to running renewable energy stations. With among the largest and also sophisticated monitoring centers in Europe, in operation considering that 2015, Wootis gives integrated technological as well as commercial management and aggregation services, as well as operation and maintenance (O&M) services at wind as well as PV stations.

The firm held that energy storage space needs to assume a significantly tactical value to make certain a safe change and also reverse the repercussions of the climate crisis.