Collaboration Agreement between Crown Prince Foundation and Fotowatio Renewable Ventures | Crown Prince Foundation

Collaboration Agreement between Crown Prince Foundation and Fotowatio Renewable Ventures

19 June 2018


-    Fotowatio Renewable Ventures - FRV has signed a collaboration agreement with Crown Prince Foundation to support in funding one of the most innovative projects of the country that will contribute to research and educative purposes
-    It has been developed by young engineering students and will be launched the first half of this year 

Amman, Jordan: The Crown Prince Foundation (CPF) signed a collaboration agreement with Fotowatio Renewable Ventures (FRV); a leading global developer of renewable utility-scale projects operating in the field of renewable energy solutions. Representing CPF in this agreement was Ms. Nour Abu Ragheb in her capacity as Acting Chief Executive Officer, whereas FRV was duly represented by Nicolas Fasquelle, Managing Director Middle East, Africa and New Territories.

By virtue of this MOU, which was signed at CPF offices, FRV along with other organizations will support one of the most innovative initiatives in Jordan, the Masar Initiative which aims to launch the first nanosatellite of Jordan – the Cubesat, which is considered to be one of the smallest satellite models, and has been designed and assembled by Jordanian youth.
This satellite - called JY1-SAT – will broadcast images of Jordanian touristic and cultural locations. At the same time, will communicate remotely with other ground stations around the world and will contribute to numerous research and educational purposes. 

The Masar Initiative was originally inspired by the first Jordanian interns at NASA. Thanks to the transfer of knowledge from these first NASA interns, the nanosatellite has been developed by young engineering students in collaboration with academics and consultants.

Ms. Abu Ragheb, on her part, thanked FRV for the support and assistance provided, stating that, “This agreement is in line with the efforts made by the Crown Prince Foundation towards cultivating strategic partnerships with various national and global corporations and institutions, for the purpose of fulfilling developmental objectives and supporting Jordan’s youth in enhancing their aptitude and capabilities.” Ms. Abu Ragheb further indicated that, “The Masar Initiative is a unique initiative set on propelling Jordan well into the realm of space engineering and sciences.”

Nicolas Fasquelle, FRV´s Managing Director for MEA stated: "We are very pleased to support the Crown Prince Foundation in innovative projects such as the Masar Initiative. This agreement demonstrates the commitment of FRV in Jordan, favoring the social and technological development of the country while supporting youth to carry out groundbreaking projects”.

About the Crown Prince Foundation (CPF):
CPF seeks to become a global champion for Jordan’s youth, acting as both a catalyst and accelerant in helping youth create a more successful, prosperous future for themselves and their communities. 

With the vision of partnering with the country’s youth to help them attain their future aspirations, CPF aims to educate, mobilize, and empower the young population to become progression agents and future curators within their communities, and country.

About FRV:
FRV is a leading global renewable development company in markets including Europe, Australia, Asia, the Middle East, Africa and Latin America. Since 2006, the management team has completed the construction, operation, maintenance and financing of over 780 MW dc of photovoltaic and CSP solar energy plants. Such projects represent more than US$ 3 billion in total financings with more than 20 leading banks.