Masdar and Taaleri are aiming to explore opportunities in the central and east European renewable energy sector through a new joint venture partnership.
The two companies have announced plans to expand an existing collaboration – centred on the western Balkans – into other parts of Europe where opportunities in onshore wind and solar energy are forecast to be “substantial”.
Bader Al Lamki, Executive Director of Clean Energy, Masdar, said: “What we’ve accomplished in partnership with Taaleri in Serbia and Jordan is a testament to the important role that strong partnerships play in unlocking access to renewable energy. We are proud to build on the experiences gained through our strong collaboration, to help countries in Central and Eastern Europe meet their renewable energy goals.”
Abu Dhabi-based Masdar and Finland-based Taaleri said in a statement that their plans include 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 West 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,” they said in a statement.
Masdar has steadily expanded its renewable energy portfolio in the Balkans through investments in large-scale onshore wind projects. In addition to the 158 MW Cibuk 1 wind farm in Serbia, Masdar announced in 2018 that it had acquired a 49 per cent stake in the 72 MW Krnovo wind farm, which became Masdar’s second wind farm investment in the region.