Fotowatio Renewable Ventures, part of Saudi-based Abdul Latif Jameel Energy, has announced the acquisition of a majority stake in a 600 Megawatts (MW) battery energy storage system (BESS) in Greece.

 

The project, which is currently under development by Wootis, will come to fruition between Q4 2023 and Q2 2024 and will combine FRV’s deep knowledge in the BESS technology with Wootis’s extensive experience in the Greek development environment. 

 

Wootis SA is one of the pioneering Greek companies in the renewable energy industry. Specialising in asset management, it offers integrated services to operating renewable energy stations. With one of the largest and most sophisticated monitoring centres in Europe, in operation since 2015, Wootis provides integrated technical and commercial management and aggregation services, as well as maintenance and operation services at wind and photovoltaic (PV) stations. 

 

Green commitment

Fady Jameel, Deputy President and Vice Chairman of Abdul Latif Jameel said: “Greece has demonstrated a remarkable commitment to achieving its target of doubling the country’s green energy capacity by 2030, which we are excited to take part in with this project. At Abdul Latif Jameel Energy, we are dedicated to supporting the green energy drive and ensuring a more sustainable energy model across the world.”

 

Andrea Fontana, Managing Director of FRV Europe, said: "This acquisition is an excellent example of FRV’s international expansion plans, which has built more than 50 renewable energy production plants to date in countries such as Spain, Australia, Mexico, Uruguay, Chile, Italy, India, the US, the UK, Armenia and Jordan, and is preparing for new projects that will soon be launched in other markets."

Athanasios Karadimas, CEO of Wootis SA said: "There has been an increasing attention to Energy storage systems given the strategic role they play in mitigating the consequences of the climate crisis."

 

In addition to this project, FRV and Wootis will also collaborate on new developments in the country. -- TradeArabia News Service