Spain-headquartered Fotowatio Renewable Ventures (FRV) has acquired a majority interest in a platform to develop 600MW of battery energy storage capacity in Greece.
FRV has acquired a majority interest from Greek developer Wootis to develop, construct and operate a portfolio of battery energy storage projects across Greece.
FRV has also partnered with Wootis to develop the 600MW portfolio of projects.
Bracewell has represented FRV on the acquisition, having supported the company on battery storage investments in the UK.
These include the Contego and Clay Tye projects, each of which are being developed in collaboration with UK developer Harmony Energy, using Tesla batteries and software.
“Bracewell is delighted to share in FRV’s continuing global expansion,” said Oliver Irwin, a partner in Bracewell’s London office.
“Battery energy storage systems continue to form a fundamental part of the energy transition across Europe.
“Significant growth in battery storage projects is expected to contribute towards the continent’s energy security and net zero targets.”