According to a statement released, the geographical areas to be targeted include Australia, South Africa, Latin America, Europe and the Middle East. It added that Denham Capital will be the lead investor in FRV, alongside Spain-based Qualitas Equity Partners and FRVs founding members.
"In addition to its investments in strategic markets including Australia, South Africa, Latin America, Europe and the Middle East, FRV will review other opportunities in new markets where the economic, energy, and regulatory policies make such investments attractive," added Rafael Benjumea, FRV CEO.
No further information has been released at this time.
Since its establishment, FRV has developed 1.5 gigawatts (GW) worth of solar projects. Currently, it is leading a consortium in the development of a 150 MW solar project in Australia. Meanwhile, last September, MEMC Electronic Materials, Inc., along with its subsidiary SunEdison, completed the acquisition of Fotowatio Renewable Ventures, Inc., FRV's U.S. subsidiary.
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