Abdul Latif Jameel hires JP Morgan for FRV sale
Abdul Latif Jameel Ltd, a Saudi Arabia-based company, has hired JPMorgan Chase & Co to facilitate the sale of the solar project developer, Spain’s Fotowatio Renewable Ventures BV (FRV).
Abdul Latif Jameel launches the sale of the company for a total consideration of EUR1.5 billion (US$ 1.7 billion). In 2015, ALJ has acquired FRV from Denham Capital Management LP, Qualitas Venture Capital SA and founding shareholders, for an undisclosed sum.
Founded in 2006, FRV currently has 57 projects across ten countries. In November 2018, the firm has secured financing from Banco Sabadell SA for the development of the 50-MW La Solanilla solar farm in the Spanish region of Extremadura. In addition, FRV has six other farms operating in the home country.
Country updates
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June 06, 2019
Repsol, Macquarie Group sets to acquire X-Elio
The consortium formed by oil company Repsol SA and Australia’s Macquarie Group Ltd is set to acquire the Spanish renewables energy project developer, X-Elio, owned 80/20 by US pri...
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June 04, 2019
Foresight completes its 50 MW Spanish solar project investment
Foresight Group has announced the completion of the acquisition of the 50 MW solar PV plant in the municipality of Puebla de Guzman in south-west Spain from Solaer. The project, which is already unde...
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June 04, 2019
Holaluz, Chint Energy partner for 500 MWp solar PV projects in Spain
The renewable power retailer Holaluz and solar firm Chint Energy have signed a framework agreement to develop solar photovoltaic (PV) projects totaling 500 MWp located in Spain. The Chint Energy will...
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June 03, 2019
Credit Suisse closes acquisition of 250 MW solar portfolio from ContourGlobal
Credit Suisse Energy Infrastructure Partners has completed the purchase of a 250 MW solar portfolio from ContourGlobal for a total investment of EUR134 million (US$149.87 million). The portfoli...
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May 31, 2019
Construction works begin at 12 MW wind project in Spain
Endesa, through its renewable energy division Enel Green Power España, has started construction on a new 12 MW wind farm in Paradela, province of Lugo, in Galicia. The investment in the constru...
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