Renewables

Taaleri, Masdar to set up JV to develop wind, solar projects in CEE

Photo: Twitter.com/Masdar

Published

January 15, 2019

Country

Comments

comments icon

0

Share

Published:

January 15, 2019

Country:

Comments:

comments icon

0

Share

Taaleri Energia, a Finnish wind and solar developer and fund manager, and Masdar, the Abu Dhabi Future Energy Company, have signed an agreement today for the establishment of a joint venture with the aim of developing renewable energy projects in Central and Eastern Europe (CEE).

The joint venture aims to build upon of the success of Masdar and Taaleri’s ongoing activities in the Western Balkans by expanding their collaboration through the joint development of onshore wind and solar photovoltaic (PV) projects, according to a joint press release.

Masdar and Taaleri have decided to jointly pursue the development of renewable energy projects in the CEE region, due in part to the forecast growth of renewable energy in the region and the substantial volume of opportunities. This includes the Polish onshore wind market, where more than 3 GW of new capacity is expected to be added over the next few years.

At the same time, multilateral institutions have recently urged the Western Balkan countries to consider replacing a significant portion of their 9 GW of aging coal-fired generation capacity with renewables, while Greece has announced plans to add up to 2.3 GW of new solar and wind capacity by the end of 2020, the press release reads.

Masdar investing in largest wind farms in Serbia, Montenegro

The proposed joint venture between Masdar and Taaleri will further strengthen the companies’ strategic alliance in renewable energy. The Taaleri Energia SolarWind I fund has invested alongside Masdar in Čibuk 1, the 158 MW wind farm in Serbia, and in the Baynouna Solar Energy Company, which is constructing a 248 MWp solar PV plant in Jordan, the largest in the country.

Masdar has steadily expanded its renewable energy portfolio in the Balkans through investments in large-scale onshore wind projects. In addition to the Čibuk 1 wind farm in Serbia, covered by the country’s feed-in tariff scheme, Masdar announced in 2017 that it had acquired a 49% stake in the 72 MW onshore Krnovo wind farm, which became Masdar’s second wind farm investment in the Western Balkans.

The 72 MW Krnovo, Montenegro’s largest and sole operational wind farm, is covered by the country’s incentives for renewable energy sources.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

serbia wind farm plandiste nis met dubravka djedovic

Government of Serbia interested in taking over Plandište wind project

25 July 2025 - Plandište is one of the projects that obtained feed-in tariffs under the first quota of 500 MW for wind power plants in Serbia

Over 20,000 prosumer projects connected in Greece during last 18 months

Over 20,000 prosumer units connected in Greece in last 18 months

24 July 2025 - Households and businesses remain highly interested in becoming prosumers in Greece, although the new net billing program faces delays.

Project 81 MW solar park on coal mine in Montenegro

Project underway for 81 MW solar park on coal mine in Montenegro

24 July 2025 - The Government of Montenegro gave a provisional green light for a solar power plant of 81.1 MW in peak capacity on coal land in Pljevlja

croatia rp global novalja solar ebrd loan

RP Global gets EUR 12.2 million loan for Novalja solar project

24 July 2025 - In late April, Austrian company RP Global began the construction of the Novalja PV plant at the Zaglava site on the island of Pag