Finland-based buyout firm Taaleri has revealed plans to spend about $600 million on wind projects in Canada and the US.
The Helsinki-listed group said it is currently in negotiations in the investment and subsequent development of over 500MW of wind capacity and that it is prepared to quickly deploy the required capital.
While projects in the US are targeted as part of the planned investment programme, chief executive Juhani Elomaa took aim at the Trump administration for its renewable energy stance and said its policies have forced Taaleri to look north of the border for the bulk of its North American spree.
“Currently, the political winds also favour renewable energy projects more in Canada than in the US,” he said. “In the US, the new administration is hesitating on advancing a renewable energy policy, even though two-thirds of Americans favour the replacement of fossil energy forms with renewable sources. On the other hand, in Alberta, a well-known gas and oil province, investments are now being quickly launched.”
The Alberta province set a new target of 30 percent renewable electricity by 2030 in September and its first tenders are expected within the first half of this year. Approximately 5GW of renewable energy capacity will be needed to meet this goal.
Taaleri’s expected investments in North America will dwarf its current portfolio in its home country, where it has 371.7MW installed or under construction. The firm launched a dedicated energy division in September, through which it is planning to intensify its efforts to back wind and solar power projects in Europe, India, Africa and North America.
Taaleri could not be reached for further comment before press time.