• The portfolio, resulting from the collaboration, will reach up to 1 gigawatt (GW)  over the next five years with an estimated aggregate investment of GBP1 billion

October 3, 2022 - Leading developer of sustainable energy solutions, Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy, has announced a collaboration with Tyler Hill Partners, a UK headquartered renewable energy company focused on development and investments in utility scale solar farm development.  The collaboration is aimed at the development of FRV TH Powertek Limited, a platform dedicated to designing, constructing and operating a portfolio of battery energy storage-system projects in the UK.

Battery Energy Storage projects play a critical role in ensuring a more stable and resilient electricity network with lower emissions. A significant growth is expected in installed capacity of battery storage projects to keep the UK on track to meet its Net Zero targets for 2050.

The portfolio, resulting from the collaboration between the two companies, is expected to reach up to 1GW/2GWh over the next five years with an estimated aggregate investment of GBP1 billion.

Fady Jameel, Deputy Chairman and Vice Chairman of Abdul Latif Jameel, said: "At Abdul Latif Energy we are committed to establishing collaborations with best-in-class partners where opportunities could arise to support our efforts towards mitigating the impacts of climate change. The introduction of FRV TH Powertek Limited reflects our commitment to developing new green technologies that contribute to achieving the UK’s ambitions to become a ‘net zero’ emitter and power its green industrial revolution”.

Felipe Hernandez, General Manager of Engineering of FRV and FRV-X, said: “Thanks to the close collaboration with Tyler Hill Partners that has resulted in this new platform, FRV TH Powertek Limited, we now have an increasing presence in the UK. This consolidates the expansion of FRV's portfolio of energy storage projects internationally and, more specifically, in the UK".

Ravishankar Tumuluri, Director of Tyler Hill Partners said: “We are excited to partner with FRV to establish this platform in the UK, which synergizes the skills and capabilities of both organizations and contributes to the decarbonization of the UK energy sector.”    

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About Abdul Latif Jameel Energy

Abdul Latif Jameel Energy was established in 2012, and is now a leading independent power producer, and a premier service provider in the renewable energy sector, with interests in 16 countries around the world with capabilities in renewable energy, including solar PV, wind, waste-to-energy, and environmental solutions, including desalination, water, and wastewater treatment. For more information, please visit: alj.com/energy   

About FRV   

FRV, part of Abdul Latif Jameel Energy, is a leading global renewable energy development company. In line with our ambition to continue leading the global transition to a more sustainable energy future, FRV has evolved from being just a developer to becoming an independent power producer.   

We aim to be the world's leading green energy and infrastructure platform.  To achieve this strategic vision, we have accelerated our growth through the return on our activities, shareholder contributions and asset rotation through the sale of minority stakes.  As a result, the company expects to invest more than US$ 1.5 billion with the goal of doubling total installed capacity from 2 GW in 2021 to 4 GW in 2024.  For more information, please visit: frv.com   

About Tyler Hill Partners

Tyler Hill Partners, founded by three industry veterans, Preeti Yardi, Ravinder Shan & Ravishankar Tumuluri,  to focus on the development of energy storage projects in the UK thereby capitalising on the drive to lowering emissions and helping tackle the threat of climate change.     

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The term "Abdul Latif Jameel" refers generally to several distinct, independent and autonomous legal entities.  Abdul Latif Jameel is not, in and of itself, a corporate entity, partnership or conglomerate headed by a parent company, but simply refers to a group of distinct and completely independent legal entities that together are referred to as "Abdul Latif Jameel". Abdul Latif Jameel is not a corporate group as defined in section 1161(5) of the Companies Act 2006.

This document may contain forward-looking statements.  Forward-looking statements are statements with respect to matters that are not historical fact, such as future results, events, activities, developments or circumstances or the beliefs, plans or expectations of the Abdul Latif Jameel entities or their respective management.  Forward-looking statements can often be identified by the use of words such as "expect", "project", "anticipate", "plan", "estimate", "believe", "predict", "intend", "potential 'possible', 'likely', 'probable', 'probable', 'forecast', 'guidance', 'outlook', 'objective', 'may', 'will', 'could', 'should' or 'might' or other similar terms or phrases.  However, the absence of such words does not mean that a particular statement is not a forward-looking statement.

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