Thursday 1 December 2022

Battery storage systems

FRV ties up with Tyler Hill to develop battery energy storage

DUBAI, October 3, 2022

Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy, is tying up with Tyler Hill Partners, a renewable energy firm, to generate up to 1GW/2GWh over the next five years at an investment of GBP1 billion ($1.12 billion). 
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.
New green technologies
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 organisations and contributes to the decarbonisation of the UK energy sector.”-- TradeArabia News Service    


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