Throughout these nine years, FRV has been able to count on the support of important and prestigious shareholders such as: Qualitas, Energy Financial Services (GE EFS), Grupo Corporativo Landon and Denham Capital to underpin its progress and growth in the industry.
In April 2015, FRV was wholly acquired by Abdul Latif Jameel Energy and Environmental Services. A key objective of this acquisition was to consolidate the business plan together with the founding team, and open access to the burgeoning market in the Middle East, North Africa and Turkey (or MENAT) region – with the 70 years of proven expertise of Abdul Latif Jameel – and also provide the ongoing financial strength to position FRV as the global leader in the solar energy market.
Abdul Latif Jameel is a diversified business comprised of independent entities that include automotive distribution, auto-parts manufacturing, financial services, renewable energy, environmental services, land and real estate development, logistics, electronics retailing and media services. Abdul Latif Jameel has an active investments arm and positions itself as a preferred business partner primarily for inward investment into the MENAT region. Established in 1945, it has dual headquarters in Jeddah, Saudi Arabia and Dubai, UAE, and currently has operations in 31 countries and employs over 16,500 people.
Abdul Latif Jameel - Fast Facts
- Financial strength and stability with zero net borrowings.
- Proven commercial expertise with over 70 years of history in the MENAT region and beyond
- One of the world’s leading independent Toyota Motor Corporation distributors, celebrating a 60 year partnership of mutual trust and respect with Toyota in 2015.
- Representing and working with some of the world’s leading brands, including Toyota, Lexus, Daihatsu, Ford (Automotive); Komatsu, Hino, Foton (Machinery & Equipment); Toshiba, Bosch, Sharp, White-Westinghouse, Alpine, Rheem, Mekar, DORA (Consumer Electronics); Virgin Megastore, Del Monte, Etisalat, Moneygram and Americana (Advertising and Media).
- Operations across six major global industries:
- Automotive and Engineering;
- Financial Services;
- Land and Real Estate;
- Energy and Environmental Services;
- Advertising and Media;
- Consumer Products.
- Global reach in 31 countries, across five continents.
- Over 16,500 employees worldwide.
- Strong commitment to social and economic sustainability through its dedicated philanthropic organization, Abdul Latif Jameel Community Initiatives.
- Socially responsible business which seeks to create local employment opportunities and generate economic growth in the communities in which we operate.
FRV – Fast Facts
- One of the world’s leading global developers in the solar energy market – from the company’s beginning in 2006, to until today with a presence in Africa, Asia, Europe, Latin America and the Middle East.
- A respectable consolidated team with more than 80 professionally qualified people, who have successfully developed more than 532 MWdc on five continents.
- Develops, constructs, finances and operates projects providing overall, complete and individual solutions to satisfy every client tailored to their particular requirements.
- Has successfully financed over more than 356 MWdc in Europe, USA, Latin America and Australia, raising more than US$ 2.0 billion with the financial support of 20 leading international banks.
- Seeks out and deploys the best innovative solutions in project financing and the most trustworthy and efficient technical responses.
- In 2014, constructed 160 MWdc in Australia 24 MWdc “Royalla” and 70 MWdc “Moree” is under construction. In Latin America, Uruguay 65 MWdc “La Jacinta" is under construction.
- A current pipeline of projects for approximately 4.3 GWdc and for the following years 2015/2016 an estimation of 500 MWdc will be under construction.