Abdul Latif Jameel Energy’s FRV collaborates with Tyler Hill Partners to develop FRV TH Powertek Limited
- FRV TH Powertek Limited is a platform developed to design, construct and operate a portfolio of battery energy storage system projects.
- The portfolio, resulting from the collaboration, will reach up to 1 gigawatt (GW) over the next five years with an estimated aggregate investment of GBP1 billion.
Leading developer of sustainable energy solutions, Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy, has announced a collaboration with Tyler Hill Partners, a UK headquartered renewable energy company focused on development and investments in utility scale solar farm development. The collaboration is aimed at the development of FRV TH Powertek Limited, a platform dedicated to designing, constructing and operating a portfolio of battery energy storage-system projects in the UK.
Battery Energy Storage projects play a critical role in ensuring a more stable and resilient electricity network with lower emissions. A significant growth is expected in installed capacity of battery storage projects to keep the UK on track to meet its Net Zero targets for 2050.
The portfolio, resulting from the collaboration between the two companies, is expected to reach up to 1GW/2GWh over the next five years with an estimated aggregate investment of GBP1 billion.
Fady Jameel, Deputy Chairman and Vice Chairman of Abdul Latif Jameel, said:
“At Abdul Latif Energy we are committed to establishing collaborations with best-in-class partners where opportunities could arise to support our efforts towards mitigating the impacts of climate change. The introduction of FRV TH Powertek Limited reflects our commitment to developing new green technologies that contribute to achieving the UK’s ambitions to become a ‘net zero’ emitter and power its green industrial revolution”.
Felipe Hernandez, General Manager of Engineering of FRV and FRV-X, said:
“Thanks to the close collaboration with Tyler Hill Partners that has resulted in this new platform, FRV TH Powertek Limited, we now have an increasing presence in the UK. This consolidates the expansion of FRV’s portfolio of energy storage projects internationally and, more specifically, in the UK”.
Ravishankar Tumuluri, Director of Tyler Hill Partners said:
“We are excited to partner with FRV to establish this platform in the UK, which synergizes the skills and capabilities of both organizations and contributes to the decarbonization of the UK energy sector.”