New York, 2017-03-07 08:00 CET (GLOBE NEWSWIRE) -- Finnish financial services company Taaleri Plc (TAALA) is setting its sights on the North American renewable energy market. The company is currently engaged in negotiations on its private equity funds’ first energy projects in North America. In the next few years, Taaleri aims to launch wind power projects valued at approximately USD 600 million in the USA and Canada.
“We believe that the projects will advance most quickly in Canada. For example, the wind power market in the province of Alberta is attractive. We are currently negotiating on the development and investment of a number of projects with a projected total capacity of over 500 megawatts. We already have the capital to invest, so we can move quickly when we identify suitable projects or project portfolios,” said Taaleri Plc’s CEO Juhani Elomaa, in connection with ringing the Opening Bell at the Nasdaq in New York on Monday.
The Province of Alberta aims to replace at latest two-thirds of its fossil energy production with renewable energy sources, of which wind power is the most significant. Wind conditions on the prairie, which makes up most of the area of Alberta, are particularly favorable for wind power production.
“Currently, the political winds also favor renewable energy projects more in Canada than in the USA. In the USA, the new administration is hesitating on advancing a renewable energy policy, even though two-thirds of Americans favor 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,” said Elomaa.
In September, Taaleri established an Energy segment, focusing primarily on renewable energy projects. Taaleri has cooperation agreements with Wärtsilä and ABB. Wärtsilä has experience of comprehensive deliveries of power plants in over 170 countries. ABB, on the other hand, is one of the world’s leading suppliers of equipment and partial solutions for solar energy production plants.
Wind power production capacity is projected to increase globally by 83 per cent from its present level by 2020. Taaleri aims to make investments in selected wind and solar power projects in Europe, India, Africa and North America.
Taaleri in brief
Taaleri is a Finnish financial group, whose parent company Taaleri Plc is listed on Nasdaq Helsinki's main market. The Taaleri Group comprises three business areas: Wealth Management, Financing, and Energy. Taaleri provides services to institutional investors, companies and private individuals. The Group’s operational subsidiaries are: Taaleri Wealth Management Ltd and its subsidiaries, Taaleri Private Equity Funds Group, Taaleri Investments Group, Taaleri Energia Oy and Garantia Insurance Company Ltd. In addition, Taaleri has associated companies Fellow Finance Plc, which offers peer-to-peer lending services, and Inderes Oy, which produces analyses and media content for investors.
At the end of 2016, Taaleri had assets under management totalling EUR 4.8 billion and 3,900 wealth management customers. Taaleri Plc has some 2,700 shareholders. Taaleri's operations are supervised by the Finnish Financial Supervisory Authority.
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