Finland-based Taaleri Energia Ltd. has acquired its first U.S. wind farm, the 277 MW Truscott-Gilliland East Wind Project in Knox County, Texas.
The project represents an approximately $350 million investment in the North American renewable power sector, the company says.
“This project is located in a strong wind area with excellent grid connectivity. By avoiding areas within ERCOT plagued by high levels of curtailment, the TG East project represents an excellent first American project for Taaleri,” says Taamir Fareed, who is in charge of Taaleri Energia’s operations in the U.S.
Taaleri Energia is finalizing the project with its North American development partner, NorthRenew Energy. The wind farm is expected to reach commercial operations by the end of 2019. The project was acquired from Truscott Gilliland Wind LLC, which had development assistance from Chermac Energy Corp.
Taaleri Energia will begin negotiations for the full financing package for the project in mid-2018, and due to the project size, Taaleri will be seeking co-investors.
“This project is a great addition to our existing wind energy portfolio. Our strategy of working with co-investors on large-scale projects has served Taaleri well throughout global markets. We are excited to have the same opportunity in the U.S,” says Kai Rintala, managing director of Taaleri Energia.
Taaleri says it has identified North America as a key market area for future renewable energy growth for the company. It plans to further expand its U.S. portfolio with more wind and solar projects in 2018.