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Fortum to buy renewable electricity from Taaleri’s 312MW Finnish wind portfolio

CTBR Staff Writer Published 21 March 2018

Fortum has signed a multi-year agreement with Taaleri to buy its entire power generated from its 312MW wind portfolio in Finland.

As per the agreement, Fortum will purchase wind power generated at 13 different wind farms in Taaleri’s portfolio with an annual production of about 1TWh, equating to about 1.5% of Finland’s annual electricity production for last year.

The terms of the agreement will begin from this 1 April 2018.

Fortum plans to sell this power to the Nordic electricity markets through Nord Pool electricity exchange.

Fortum originator and B2B Sales Saara Rantanen said: “Taaleri’s wind portfolio is one of the largest in Finland, as is this newly signed wind power purchase and balance agreement.

“It is wonderful that we can help Taaleri to get the emissions-free wind power they generate to the Nordic electricity markets. At the same time, this supports the advancement of our own expertise in wind power.”

According to Fortum, buying Taaleri’s wind generated electricity and selling it to the Nordic electricity markets aligns strongly with its targets. 

Taaleri Energia production manager Olli Hagqvist said: “We have purposefully built our renewable energy strategy.

“Through our collaboration, we are able to combine Taaleri’s significant expertise in renewable energy with Fortum’s extensive knowledge of the Nordic electricity markets.”

Taaleri Energia, a subsidiary of the Finnish financial services company Taaleri, presently owns a national and international portfolio of 750MW in renewable energy assets under construction and in operation across Finland, Serbia and Jordania.

In February, Taaleri Energia agreed to acquire the 227MW Truscott-Gilliland East wind project in the US from NorthRenew Energy. Located in Knox County, Texas, the wind farm is expected to reach commercial operations by the end of next year and it represents an investment of $350m.

Taaleri Energia had acquired the project from Truscott Gilliland Wind, which had development assistance from Chermac Energy Corporation.

Image: Fortum to buy green electricity from Taaleri’s Finnish wind portfolio. Photo: Courtesy of Fortum.