Harmony Energy secures £60m from NatWest for battery storage acquisition

Fotowatio Renewable Ventures in new £1 billion UK battery storage partnership

Published: 5 Oct 2022, 08:09

FRV’s 34MW/64MWh Contego battery storage system in West Sussex, brought online in partnership with another developer, Harmony Energy. Image: FRV

Fotowatio Renewable Ventures (FRV) and Tyler Hill Partners have created a platform to develop, build and operate up to 1GW/2GWh of battery energy storage system projects in the UK.

The platform, RV TH Powertek Limited, is expected to invest up to £1 billion in the projects over the next five years. The portfolio will total 1GW of power and 2GWh of energy capacity, indicating that most of the systems will have a duration of two hours.

Madrid-based FRV is a renewable energy development arm of Abdul Latif Jameel Energy, part of the family-owned conglomerate founded in Saudi Arabia in 1945 by the late Sheikh Abdul Latif Jameel, while Tyler Hill is a UK-based renewable energy developer.

To read the full version of this story, visit Energy-Storage.news

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