FRV partners with Denham for Photovoltaic, Concentrated Solar Power development

Fotowatio Renewable Ventures SL (FRV, Madrid, Spain) announced that it has entered into a partnership with Denham Capital LP (Boston, Massachusetts, U.S.) to invest over USD 190 million in new solar energy photovoltaic (PV) and concentrating solar power (CSP) projects in several continents.

FRV states that the partnership will also consider acquiring PV and concentrating solar thermal power  projects in situations where FRV’s feels that it can add value. Through the partnership Denham Capital will become the lead investor in FRV, along with Qualitas Equity Partners SA (Madrid, Spain).

"FRV is pleased to have the support of Denham Capital, which brings extensive experience and knowledge of the energy sector," states FRV CEO Rafael Benjumea. "These funds will give FRV the resources needed to continue its position as a global leader in the solar industry."

"In addition to its investments in strategic markets including Australia, South Africa, Latin America, Europe and the Middle East, FRV will review other opportunities in new markets where the economic, energy, and regulatory policies make such investments attractive."

FRV has participated in the development, construction and financing of more than 350 MW of solar energy plants in the United States, Spain and Italy, with a development pipeline of more than 1.5 GW of projects.