15.11.2021
TAALERI PLC PRESS RELEASE 15 NOVEMBER 2021 AT 11:00 (EET)
Taaleri SolarWind II fund invests in a ready-to-build solar PV plant in Southern Spain with a capacity of 50 MWp
The Taaleri SolarWind II fund has acquired 100% ownership of the Niebla solar plant, which is located in the Municipality of San Juan del Puerto in Andalusia, approximately 70 km west of Seville.
The solar PV plant will have an installed capacity of 50 MWp and the annual production of electricity will be approximately 107 GWh. The solar PV plant will produce enough electricity to supply around 28,000 households and will offset the equivalent of 36,500 tonnes of carbon dioxide during each year of operation. Construction works will start in December 2021 and the plant is expected to be fully operational in the third quarter of 2022.
The Niebla solar plant was developed by Valfortec, a Spanish developer, in co-operation with Taaleri Energia. The project has a long-term financial power purchase agreement with Centrica Energy Trading to manage the majority of the electricity produced. Project financing will be provided by Banco Sabadell with the loan qualifying as a green loan under the Loan Market Association’s Green Loan Principles.
“We are very pleased with this investment. Spain has significant solar resources and ambitious plans to increase the proportion of solar generated power on the Spanish grid. Operating out of our office in Madrid, we have been steadily building our market understanding and developer network over the past three years and we expect to continue to be an active investor in Spanish solar projects”, said Taaleri Energia’s Investment Director, Petri Isotalus.
“We are very excited to have been able to collaborate with Taaleri Energia. Banco Sabadell has extensive experience in financing renewable projects in the Iberian market, which we hope to continue to share with Taaleri Energia in the future. Climate change is one of the greatest risks we face nowadays and projects such as these are crucial in order to transition towards a more sustainable economy”, said Banco Sabadell’s Project Finance Director, Roberto García Coria.
About the Taaleri SolarWind II fund
The Taaleri SolarWind II fund invests in utility-scale wind and solar assets. The fund is investing in a diversified portfolio of ready-to-build assets in five key markets; the Nordics & Baltics, Poland, South East Europe, Iberia and Texas. It is estimated that the fund will finance approximately 850 MW of renewable energy capacity, which will offset over 1 million tonnes of CO2 annually throughout the 25 year lifetime of the assets.
The fund’s investors include the European Investment Bank, Ilmarinen Mutual Pension Insurance Company, Varma Mutual Pension Insurance Company, the European Bank for Reconstruction and Development, Obligo Global Infrastuktur II Fund, the Finnish Church Pension Fund, the Nordic Environment Finance Corporation, the Taaleri Group, the Taaleri Energia team and a wide range of pension funds, foundations, endowments, and family offices.
About Taaleri Energia
Taaleri Energia is a renewable energy developer and fund manager. With 40 professionals, Taaleri Energia has one of the largest dedicated wind and solar investment teams in Europe. The team is currently investing its fifth renewable energy fund, the Taaleri SolarWind II fund, and has a 2.8 GW wind and solar portfolio in Europe, the US, and the Middle East.
Taaleri Energia is ranked by Preqin as one of the most consistent top performing infrastructure fund managers.
Taaleri Energia is part of the Taaleri Group, which is listed on the Nasdaq Helsinki stock exchange.
For more information, please contact:
Petri Isotalus, Investment Director, Taaleri Energia, 358 40 827 6516, petri.isotalus@taaleri.com
Francisco Garcia Valverde, General Manager Taaleri Energia Iberia, 34 669 851 060, fran.valverde@taaleri.com
Stephen Ross, Head of Investor Relations, Taaleri Energia, 358 40 7337789, stephen.ross@taaleri.com
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Taaleri in brief
Taaleri is a Nordic investment and asset manager with an emphasis on renewable energy and other alternative investments. We channel capital towards economically profitable undertakings that have a lasting positive impact on the environment and society. We are a signatory of the UN Principles for Responsible Investment (UNPRI) since 2010. Taaleri’s vision is to be a Nordic forerunner in alternative investments focusing on sustainability.
Taaleri has two business segments: Private Asset Management and Strategic Investments. Private Asset Management consists of renewable energy, real estate, bioindustry and infrastructure businesses. The Strategic Investments segment includes Garantia Insurance Company Ltd.
Taaleri has EUR 2.1 bn of assets under management in its private equity funds and co-investments. The company has approximately 120 employees. Taaleri Plc is listed on Nasdaq Helsinki.
Siri Markula, Head of Communications and IR, tel. 358 40 743 2177, siri.markula@taaleri.com