Spanish Clean Energy Firm FRV Weighs Asset Sale in Chile 2021

Fotowatio Renewable Ventures Inc., a Spanish developer of renewable energy projects, plans to sell a 300-megawatt pre-construction portfolio of wind and solar power plants in Chile, according to people familiar with the matter. The Madrid-based company is working with consultants on the potential sale, people said, asking not to be identified as the information is private. The assets have attracted preliminary interest from potential bidders, including a Chinese company, people said. Endesa SA announced earlier this month that it would invest more than 300 million euros ($ 337 million) to purchase and complete a 419 megawatt portfolio of FRV photovoltaic projects, El Economista reported.

Negotiations are underway and FRV may decide not to proceed with the sale, people said. A representative from FRV did not immediately respond to requests for comment. The Chilean project combines photovoltaic and wind technologies and is expected to generate enough energy to power around 224,000 homes, according to a 2018 press release announcing that FRV had won the project. .Founded in 2006, the FRV has more than 50 factories on five continents, according to its website.abdul Latif Jameel Energy and Environmental Services, a developer of photovoltaic solar factories ranging from Saudi Arabia, bought at the 2015 PRV for an amount. its Australian unit, FRV Australia Group, to Omers Infrastructure in October, according to an announcement.

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