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FRV reaches a financial closure on Carmonita Norte solar PV cluster in Spain

Fotowatio Renewable Ventures (FRV) has reached a financial close on the Carmonita Norte solar PV cluster in Spain.

FRV is a leading developer of sustainable energy solutions, which is also a part of Abdul Latif Jameel Energy.

The solar PV cluster with a capacity of 123 MWdc is located in Extremadura. The project covers an area of 356 hectares. The Carmonita Norte cluster is said to be the first of the three projects that the Carmonita node will host.

According to the company, “the Carmonita Norte cluster will produce around 260 gigawatt hours (GWh) of clean energy per year.” The generated power is sufficient to supply energy to approximately 93,600 Spanish households.

A report mentioned that along with the solar projects currently under development, the total projects will deliver a forecasted 1.1 GW in the region in South-West Spain.

It is likely that the first plant of the Carmonita complex will come into full operation by the end of 2023.

It comes at a time when the Spanish Government has an aim to achieve Greenhouse Gas (GHG) emissions neutrality in Spain by 2050.

Fady Jameel, Deputy Chairman and Vice Chairman of Abdul Latif Jameel, was quoted in a report, “FRV has made impressive progress in expanding its portfolio of renewable energy projects, not only in Spain, but around the world. This expansion is a testament to our commitment to delivering clean energy solutions in key global markets and we are proud to have the opportunity to bring clean energy to Extremadura while supporting Spain's broader decarbonization strategy."


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