Business Forum • 25 June, 2024 at 11:17 AM
FF Ventures, a major player in the European renewable energy market, has announced its official entry into the Romanian market. The company will develop, over the next three years, 500 MW of solar projects and 500 MW of energy storage projects in our country.
FF Ventures owns and is developing 2.2 GW of photovoltaic capacity in Spain and 1.2 GW in Portugal and is starting operations in France and Mexico. By expanding into Romania, the company plans to expand its portfolio through both greenfield projects and co-development opportunities.
"FF Ventures decided to enter Romania after a careful and thorough market analysis. Several factors played a role in this decision. Firstly, Romania is a European market that fits in with the objectives of the company's shareholders, who want to help the region achieve its decarbonisation and CO2 reduction targets. Secondly, Romania has demonstrated its commitment to increase the uptake of renewable energy through the targets set in the National Integrated Energy and Climate Change Plan (PNIESC), as well as through the favourable regulatory environment for investments in this sector. Forecasts also point to a growth in the country's economy and industrialisation, which will lead to increased consumer demand in the future. All these factors make Romania an attractive market for investments in renewable energy projects", said Andrei Pecingine, FF Ventures' Development Director for Romania.
FF Ventures plans to develop 500 MW of solar projects and 500 MW of energy storage projects in Romania over the next three years. The company is announcing long-term plans in our country, through the development of its own portfolio of greenfield projects as well as co-development opportunities.
FF Ventures currently owns a portfolio of photovoltaic projects with a combined capacity of 3.4 GW in the Iberian Peninsula (Spain and Portugal). The company also participates, through IberBlue Wind, a joint venture specialising in renewable energy, in a portfolio of floating offshore wind projects with a total capacity of 5 GW.
The relevant shareholders of the company are Octopus, one of Europe's largest and leading investment funds in renewable energy projects, and Time to Act Capital, a fund involved in energy transition projects in developing markets.
FF Ventures was established in 2018 with the initial objective of developing solar PV projects in the Iberian Peninsula. The company has a portfolio of projects with a capacity of approximately 2.2 GW in Spain and 1.2 GW in Portugal. FF Ventures covers the entire value chain of the lifecycle 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 farms, as well as Battery Energy Storage System (BESS) projects. FF Ventures currently has offices in Spain (Madrid and Seville), Portugal (Lisbon) and Romania (Bucharest) and is in the process of opening operations in France and Mexico.