Taaleri lands first wind project in the US
Taaleri Energia, the energy branch of Taaleri Group, has acquired its first wind power project in the US, representing an approximately 350 million-US dollar investment in the US renewable power sector.
The 277 MW Truscott-Gilliland East Wind Project located in Knox County, Texas, was acquired by Taaleri Energia from Truscott Gilliland Wind.
Taaleri is finalising the project with its North American development partner North Renew Energy and is expected to reach commercial operations in the end of 2019.
“This project is located in a strong wind area with excellent grid connectivity,” comments Taamir Fareed, Taaleri’s wind power expert in the US.
Due to the size of the project, Taaleri will be seeking co-investors to invest alongside its renewable energy fund and will begin negotiations for the project’s full financing package in mid-2018.
“Cost of energy produced by wind and solar has constantly been decreasing,” Fareed points out. “It has led to a situation in several regions in the U.S. where wind and solar are cheaper to build than coal and natural gas. Therefore the future of renewables in the U.S. market looks very bright.”
Due to the favourable market conditions, Taaleri will be looking to expand its US portfolio with new wind and solar projects in 2018.