Abdul Latif Jameel Energy’s FRV adds more UK battery storage projects to portfolio: Spain-headquartered Fotowatio Renewable Ventures (FRV) reached financial close on two battery energy storage (BESS) facilities in the UK with a combined power output of 133 MW, according to a company statement. FRV — a subsidiary of Saudi solar PV developer Abdul Latif Jameel Energy and Environmental Services — separately acquired two British BESS projects with a combined capacity of up to 100 MW from UK utility scale solar and battery project developer RE Projects Development last October.

The details: One of the BESS facilities will have a power capacity of 99 MW and is set to be the UK’s largest BESS unit once operational, according to the statement. The other storage plant will have an output volume of 34 MW. The timeline of the facilities’ construction has not been disclosed.

Who’s footing the bill? FRV raised a total of USD 75 mn — 60% of the projects’ cost — to fund both battery storage units from investment banking firm Natixis CIB UK.

FRV’s global renewables shopping spree seems to be continuing in 2023: FRV also reached financial close on its 300 MWac Walla Walla solar farm in New South Wales, and acquired a majority stake in Greek renewables company Wootis SA’s 600 MW BESS project for an undisclosed sum earlier in November. The company also invested EUR 10 mn German solar-as-a-service provider Ecoligo in a Series A round in October, fueling Ecoligo’s expansion of its operations — including financing, planning, construction, and maintenance of solar projects.