Fotowatio Renewable Ventures (FRV) has launched megaoma new brand to carry out Operation and Maintenance (O&M) tasks of energy assets. As announced this Thursday by the company, the megaom operation will begin with the management of 3 gigawatts (GW) in 32 floors in key markets such as Spain, Mexico, Australia, Uruguay, Chile, Armenia and Jordan. In addition, the company will operate the largest battery storage systems (BESS) plant in Europe, located in the United Kingdom.
According to the Commercial Registry, FRV has entrusted Jorge GarridoHead of O&M at the company, and Pilar LopezLegal Corporate and M&A, the new brand management. Megaom offers complete solutions that guarantee optimization in the production of renewable energy, maximizing the value of assets during their life cycle. Its mission focuses on analyze each plant to improve its performance.
As highlighted by the company, the assets that are maintain are 80% FRV and 20% third parties.
The company has highlighted in a statement that the megaom team is made up of professionals with more than 15 years of experience in operation and maintenancespecialized in areas such as cybersecurity, communications, logistics optimization and advanced O&M strategies.
In sales process
The creation of the new firm, which was registered last May in the Commercial Registry, comes in the midst of the possible sale of FRV. In this sense, large infrastructure funds such as Blackstone, BlackRock, InfraVia, Apollo and Antin are postulated as the first candidates to participate in the sales process of the renewable developer with Spanish roots.
The operation, which has the advice of JP Morgan, plans to receive the first non-binding offers on December 17. The owner of FRV, the Saudi group Abdul Latif Jameel Energy, is finally determined to leave the company and has put 100% of the capital up for sale, compared to the 80% option that was initially considered.
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