Taaleri, Masdar plan renewables JV for Central and Eastern Europe

Finland’s Taaleri Energia Ltd and Abu Dhabi Future Energy Company PJSC, better known as Masdar, have agreed to form a joint venture (JV) that will develop renewable energy projects in Central and Eastern Europe.

The Finnish renewables group unveiled plans for the JV on Tuesday, explaining that the new entity will pursue solar and wind projects in the particular regions. Plans for its establishment come in response to the projected growth of renewable energy and the “substantial volume of opportunities” in markets such as Poland, which is seen to add over 3 GW of onshore wind capacity in the next few years, as well as the West Balkan countries, in view of certain plans for switching coal for renewables. Another market offering development potential is Greece as it aims to install up to 2.3 GW of fresh solar and wind power generation by end-2020, Taaleri said.

The JV agreement was signed during the sidelines of the World Future Energy Summit (WFES) in Abu Dhabi.

Taaleri and Masdar already work together on projects in the Western Balkans. Among those is the 158-MW Cibuk I wind farm in Serbia, planned to be launched this year. The companies have also joined hands to build a 248-MWp solar park in Jordan, which will be the largest one in the country.

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