FRV establishes new permanent UK base as battery energy storage system projects continue to be developed
The continued success and growth of battery energy storage systems (BESS) projects for FRV, the flagship renewable energy business, part of Abdul Latif Jameel Energy, has led to the development of a dedicated presence in London, UK.
David Menendez, Managing Director UK and BESS Centre of Excellence, FRV, talks about why the UK is such an important market for BESS projects, the country’s pioneering role in establishing new regulatory frameworks and services, and why he believes the industry at large will experience a tipping point in the next decade.
In the video, David comments:
“I think that the industry is at a tipping point and in the coming ten to 20 years, we are going to see a big revolution in the energy sector. I think that… the traditional value chain around the electricity energy sector is going to change – it’s already changing. …Consumers will become generators and generators will become another thing and the full value chain will be shaken by that revolution. That revolution is supported by new technology: communications, computer capability, and other energy sources. We are energy generators.”
In January, 2023, FRV announced the financial close of its BESS projects, Contego in West Sussex and Clay Tye in Essex, the latter of which is the largest BESS in the UK. The US$ 75 million financing was carried out by Natixis CIB UK and the transaction is a major milestone for FRV as it is the largest project finance executed on a full merchant battery portfolio in Europe to date.