To develop renewable energy projects in Central and Eastern Europe, Taaleri Energia and Masdar signed a joint venture deal. The joint venture is proposed to be built upon the success of Masdar and Taaleri’s activities in the Western Balkans by building their collaboration through the shared development of onshore wind and solar photovoltaic projects. The deal was signed by Bader Al Lamki, an executive director for clean energy, Masdar, and Karri Haaparinne, Deputy CEO of Taaleri, on the sidelines of the World Future Energy Summit at the National Exhibition Center, Abu Dhabi.
Bader Al Lamki stated that the partnership with Taalerii in Serbia and Jordan is an example of what can be accomplished by unlocking access to renewable energy. The company is pleased to build on the experiences gained from collaboration to help countries in Eastern and Central Europe to meet their clean energy requirement goals. The companies have cordially pursued the development of renewable energy projects in Central and Eastern Europe due to the forecasted growth and volumes of opportunities. The plan includes Polish on-shore wind market, where 3 gigawatts of capacity are expected to be added over the next few years. Multilateral institutions have urged the West Balkan countries to examine and replace their declining coal-fired generation capacity with clean energy generators. Greece has announced that by 2020, up to 2.3 GW of new solar and wind capacity will be added.
By working together, companies will generate high-quality deal flow in the region and provide a fund that will help the company reinvest in high caliber investment, equipment, financing, and construction partners and counterparts. The new joint venture will strengthen the strategic alliance between Masdar and Taaleri. Through significant investment in onshore wind projects, Masdar has steadily expanded its clean energy portfolio in Balkans. Masdar aims to create sustainable urban development and clean energy technology to address global sustainability. Taaleri Energia is a Finnish-based wind and solar developer which has one the largest dedicated wind-solar investment team. Taaleri manages utility-scale wind and solar investment in Europe and the U.S.