17.07.2019
TAALERI PLC PRESS RELEASE 17 JULY 2019 10:00 AM (EEST)
Taaleri SolarWind II fund invests in a 91 MW wind farm in Finland in the fund’s first transaction
Taaleri SolarWind II fund has, together with fund co-investors, acquired 100% of the equity of the Oltava wind farm. The Oltava wind farm is located in the municipality of Pyhäjoki in north-western Finland, around 100kms from the City of Oulu.
Construction work on the wind farm has started, and with 19 Nordex 4.8 MW turbines and an installed capacity of 91 MW, the wind farm’s annual production of electricity will be approximately 290 GWh. The wind farm will produce enough electricity to supply around 35,000 households and will offset the equivalent of 88,000 tonnes of carbon dioxide during each year of operation.
The project was developed in-house, and Taaleri Energia’s engineering team will be responsible for managing the construction of the wind farm and subsequently monitoring its long-term performance. The wind farm is expected to reach full operations in the first quarter of 2021. Nordex will be responsible for maintaining the turbines under a 25-year contract. The Balance of Plant contractor is Eltel Networks and the debt financing for the investment will be provided by Hamburg Commercial Bank.
“We are very satisfied with our first investment from Taaleri SolarWind II fund. It is a fully commercial, subsidy free Finnish wind farm that meets the investment criteria and demonstrates the value of our in-house project development, construction, technical and commercial management capabilities”, said Taaleri Energia’s Managing Director, Kai Rintala.
About Taaleri Energia
Taaleri Energia is a Helsinki based renewable fund manager and developer. Taaleri Energia has one of the largest dedicated wind and solar investment teams in Europe. Taaleri Energia develops, invests in and manages utility-scale wind and solar investments, primarily in Europe and the US, and currently manages a 1.1 GW (gigawatt) portfolio of wind and solar assets. Taaleri Energia is also the largest private equity owner-operator in the Finnish wind market, with 110 turbines producing approximately 1% of all the country’s electricity.
Taaleri Energia is part of the Taaleri Group, which is listed on the Nasdaq Helsinki stock exchange.
For more information, please contact:
Kai Rintala, Managing Director, Taaleri Energia, 358 40 162 5711, kai.rintala@taaleri.com
Stephen Ross, Head of Investor Relations, Taaleri Energia, 358 40 733 7789, stephen.ross@taaleri.com
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Taaleri in brief
Taaleri is a Finnish financial service company, whose parent company Taaleri Plc is listed on Nasdaq Helsinki's, Finland, main market. The Taaleri Group comprises three business areas: Wealth Management, Financing, and Energy. In addition, the Group makes investments from its own balance sheet.
At the end of 2018, Taaleri had assets under management totalling EUR 5.7 billion and 5,400 wealth management customers. Taaleri Plc has some 4,100 shareholders. Taaleri’s operations are supervised by the Finnish Financial Supervisory Authority.
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www.taaleri.com/en
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Sophie Jolly, Head of Communications and IR, sophie.jolly@taaleri.com, tel. 358 40 828 7317