Fotowatio Renewables Ventures acquires stake in Greece battery energy storage project

By Arya M Nair, Official Reporter
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FRV acquires stakes in Greece BESS
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Fotowatio Renewable Ventures (FRV), a leading developer of sustainable energy solutions and part of Dubai-based Abdul Latif Jameel Energy, has acquired 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 of the BESS technology with Wootis’s extensive experience in the Greek development environment.

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

Fady Jameel_FRV acquires stake in Greece BESS
Fady Jameel
Deputy President & VC
Abdul Latif Jameel

“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.”

Mr. Andrea Fontana, Managing Director of FRV Europe, said that “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 United States, the United Kingdom, Armenia and Jordan, and is preparing for new projects that will soon be launched in other markets.”

Mr. Athanasios Karadimas, CEO of Wootis SA stated that “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.

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