By Kari Williamson
The partnership with Denham Capital strengthens FRV’s ability to make investments in global solar markets, including Australia, South Africa, Latin America, Europe, and the Middle East.
The partnership will consider acquisitions where FRV’s core competencies can add value. FRV will continue to provide asset management services to existing partners and will opportunistically consider new asset management contracts, the company says.
Denham Capital will be the lead investor in FRV, providing capital to be invested in solar energy projects worldwide, alongside Spanish private equity firm Qualitas Equity Partners and FRV’s founding members.
“FRV is pleased to have the support of Denham Capital, which brings extensive experience and knowledge of the energy sector. These funds will give FRV the resources needed to continue its position as a global leader in the solar industry. 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. Denham Capital clearly understands what it takes to be successful in global solar development and we are delighted to have them as our anchor investor”, says Rafael Benjumea CEO of FRV.
Scott Mackin, Managing Partner and Co-President at Denham Capital and head of the firm’s global Power & Renewables team, adds: “We are delighted to be working with FRV to support the development of its solar business across a new range of exciting geographies. The FRV team has had great successes and is unique in its ability to bring a recognisable franchise to any market it enters; a key differentiating factor to others in the market. Denham Capital has a history of backing strong management teams and our global reach and power and renewable expertise adds significantly to the strong foundation FRV offers as the pre-eminent international solar development team. They have an outstanding track record in the sector and have worked with only the best of partners. It is great to be working with them.”