Finnish financial services company Taaleri Plc 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, and aims to launch wind-power projects valued at about $600 million in the U.S. and Canada in the next few yers.

“We believe that the projects will advance most quickly in Canada,” said Taaleri Plc’s CEO Juhani Elomaa. “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 MW.”

]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.

Elomaa said the company already has the capital to invest, so it can move quickly once it identifies suitable projects or project portfolios.

“Currently, the political winds also favor renewable energy projects more in Canada than in the U.S.,” he added. “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.”

In September, Taaleri established an Energy segment, focused primarily on renewable energy projects. Taaleri has cooperation agreements with Wärtsilä and ABB.

Wind power production capacity is projected to increase globally by 83% 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.

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