FF Ventures plans 1000 MW of solar and energy storage projects in Romania
Renewable energy company FF Ventures has announced its official entry into the Romanian market, where it plans to develop 500 MW of solar projects and 500 MW of energy storage projects over the next three years.
The company plans to develop its own portfolio of greenfield projects, but it is also looking at co-development opportunities.
FF Ventures owns and is deploying 2.2 GW of PV capacity in Spain and 1.2 GW in Portugal. It is also in the process of starting its operations in France and Mexico. The company participates through IberBlue Wind, a joint venture specializing in renewable energy, in a floating offshore wind project pipeline with a total capacity of 5GW.
Some of the company's main shareholders are Octopus, one of the largest European investment funds in the field of renewable energy projects, and Time to Act Capital, a fund involved in energy transition projects in developing markets.
"FF Ventures decided to enter Romania after a thorough and in-depth market analysis. Several factors played a role in the decision. First of all, Romania is a European market that fits into the goals of the company's shareholders, who want to help the region reach its decarbonization and CO2 emission reduction targets. Secondly, Romania has demonstrated its commitment to increasing the adoption of renewable energies through the objectives assumed within the Integrated National Plan in the field of Energy and Climate Change (PNIEC), but also through the regulatory environment favorable to investments in this sector," Andrei Pecingine, the development director of FF Ventures for Romania, explained.
"Also, forecasts indicate an increase in the economy and industrialization of the country, which will cause the consumption requirement to increase in the future. All these factors make Romania an attractive market for investments in renewable energy projects."
FF Ventures was established in 2018 with the initial objective of developing solar photovoltaic projects in the Iberian Peninsula. The company covers the entire lifecycle value chain of renewable energy projects, from financing and development to construction and operation.
The company develops a wide range of onshore and offshore projects, which include solar and wind, onshore and mixed farms, as well as Battery Energy Storage System projects.
(Photo source: the company)