Abdul Latif Jameel (ALJ) may have started with a focus on the automotive industry to innovate transportation measures across the Kingdom of Saudi Arabia, but the now-multinational conglomerate has made moves in a variety of other sectors. This diversified attention aligns with the firm’s, and the Kingdom’s, goals to help create a more sustainable future. To this end, the company established an Energy and Environmental Services (EES) arm, overseen by co-CEOs Daniel Sagi-Vela and Carlos Cosin. The two are responsible for the operations and management of two vital organizations in the EES division, Fotowatio Renewable Ventures (FRV) and Almar Water Solutions.
Notably, FRV has made a significant impact on the progress of leveraging renewable energy. FRV places an emphasis on innovation along the new energy chain and creating real world solutions that can make renewable energy accessible to everyone regardless of their situation in life. Founded in 2006, FRV is now active on four different continents and oversees energy production across more than 50 plants. Most recently, FRV announced its expansion in Spain with the commissioning of a solar farm in the Extremadura region of western Spain.
Named San Servan 400, the effort is comprised of three projects with an emphasis on providing clean, renewable energy to over 100,000 homes. Project leadership expects to avoid the emission of 223,000 tons of carbon dioxide on a yearly basis through the generation of energy on a dedicated solar farm producing 300 gigawatt hours of energy each year. The cluster will include three sites of 50 MWdc each for a total of 150 MWdc.
The new solar farm in Spain joins a series of other photovoltaic plants in the country, in combination of operational and under construction, as part of the broader FRV network. The effort is also the third of its kind in Extremadura, with the commission of plants San Servan 200 and La Solanilla. Another is currently under construction at the Carmonita Norte PV complex. This expansion of FRV operations fits well as part Spain’s own Long-Term Decarbonization Strategy, which seeks to reduce the number of greenhouse gas emissions produced in the country by 90 percent by 2050 in comparison to 1990 figures. “Extremadura is at the forefront of renewable energy in Spain and Europe,” said Félix Bolaños, minister of the presidency, relations with parliament and democratic memory. “The ecological transition is fundamental to Spain’s development, hence all the effort the government is making to ensure that our country becomes a world power in renewable energy by 2050. The investments being made today in San Servan are investments for the future of Spain.”
FRV distinguishes itself by facilitating projects with a Green Financing Framework, which includes the use of green bonds and loans as well as green-focused project financing. The San Servan 400 project is financed by an 89 million Euro loan from BBVA and Natixis. FRV also endeavors to create jobs and provide training for local workforces to help sustain local economies while innovating their power structure. The firm is also dedicated to leveraging sustainable energy as a means of creating economic and social growth for countries across the world. ““The commissioning of this new solar farm in Spain reflects our efforts to support the country in its decarbonization process. It is a testament to our belief in sustainable and renewable energy as a strategic pillar that will support and drive economic, social, and environmental advancements for future generations,” said Fady Jameel, deputy chairman and vice chairman of ALJ.
Spain is not the only European frontier for FRV. The firm also recently expanded to the United Kingdom, where it founded a London-based office to headquarter its Global Batteries Excellence Centre. The initiative oversees the responsible generation and storage of energy to overcome sustainability challenges in the country. FRV already has over 80MW worth of projects in operation in the country, with another 200MW of projects under construction. The company also acquired two battery energy storage projects from RE Projects Development Limited in an effort to expand its portfolio and further integrate energy storage solutions in the country.
FRV’s German headquarters in Munich will also serve as a base for the company’s renewable energy development projects in that country. Partnering with local and regional infrastructure providers, FRV plans to enter the German market by developing a series of photovoltaic, battery storage, and renewable energy installations by 2027. FRV’s renewal energy solutions promise to help put to practice their robust knowledge in the creation and deployment of large-scale solar plants while also helping the country take advantage of decentralized energy that can be stored to manage energy surpluses.
As a private, family-owned enterprise, Abdul Latif Jameel has placed an emphasis on diversifying its business interests to include energy and environmental sciences. Founded in 1945, ALJ has expanded to include operations across six continents and 11,000 employees. Operations are split between the founder’s grandsons, Fady Jameel and Hassan Jameel, who oversee international and domestic interests, respectively. Both leaders place an emphasis on giving back to the community and innovating their business lines to be more sustainable and drive change by leveraging science and technology. ALJ acquired FRV in 2015 as part of the company’s goal to expand its impact in both capability and geography when it came to renewable energy solutions.
Since then, FRV has increased international energy production in key markets across the globe. Additional investment promises to further expand FRV’s efforts with plans to double the total installed capacity currently being managed before 2024. Intent on leading the world toward a sustainable energy future, FRV and ALJ continue to leverage new technologies and specialist teams to fuel rapid growth to become a 100 percent renewable energy independent power producer. Under the direction of Hassan Jameel, the firm’s philanthropic efforts through Community Jameel also highlight the need for breakthroughs that will support positive climate change. Setting an example for other infrastructure developers and producers the world over, FRV is committed to producing and supplying the means for clean, accessible, and affordable energy that can be truly sustainable for the long term.
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