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Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy, is working with renewable energy firm Tyler Hill Partners to generate up to 1GW/2GWh of electricity generation over the next five years with a £1bn ($1.12bn) investment.
The collaboration aims to develop FRV TH Powertek Limited, a platform dedicated to designing, building and operating a range of battery energy storage system projects in the UK.
Battery storage projects play a key role in ensuring a more stable, resilient and lower-emission electricity grid. The installed capacity of battery storage projects is expected to grow significantly to put the UK on track to meet its 2050 net-zero emissions target.
new green technology
Fady Jameel, Vice-Chairman and Vice-Chairman of Abdul Latif Jameel said: “At Abdul Latif Energy, we are committed to building partnerships with best-in-class partners to support our efforts to mitigate the impacts of climate change. The launch of FRV TH Powertek Limited reflects This underpins our commitment to developing new green technologies that contribute to the UK’s ambition to become ‘net zero’ and drive its green industrial revolution.”
Felipe Hernandez, General Manager Engineering for FRV and FRV-X, said: “Thanks to the close collaboration with Tyler Hill Partners that led to this new platform, FRV TH Powertek Limited, we now have a growing presence in the UK. This strengthens FRV’s presence in the Internationally, and more specifically, the expansion of the energy storage portfolio in the UK.”
Ravishankar Tumuluri, Director at Tyler Hill Partners, said: “We are delighted to be working with FRV to build this platform in the UK that can synergise the skills and capabilities of both organisations and contribute to the decarbonisation of the UK energy sector.”- arab trade news agency
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