22.12.2023
TAALERI PLC INVESTOR NEWS 22 DECEMBER 2023 AT 11:00 (EET)
Taaleri’s international SolarWind III Fund announces second close at EUR 430 million
The Taaleri SolarWind III Fund, Taaleri Energia’s sixth renewable energy fund, has held a second closing, with EUR 430 million in commitments. The Fund is classified as dark green, i.e. an Article 9 Fund under the EU Sustainable Finance Disclosure Regulation. The Fund only makes sustainable investments in projects that contribute substantially to climate change mitigation. The Fund also reports extensively on the sustainability impact of its investments.
The Fund’s investors include the European Bank for Reconstruction and Development, the European Investment Fund, KBC Verzekeringen (in partnership with EIF), Varma Mutual Pension Insurance Company, Taaleri and the Taaleri Energia team. Finnish pension funds, foundations, endowments, family offices and individual investors are also strong supporters of the Fund, investing through a fund managed by Aktia Bank.
The Fund’s investment strategy is to acquire, develop, contract, construct, operate and exit a portfolio of utility scale onshore wind farms, photovoltaic solar parks and battery storage assets. The Fund’s target markets are the Nordics & Baltics, Poland, Southeast Europe, Spain and Texas.
The Fund was seeded with a portfolio of 50 development projects at the first close. The team has continued to selectively acquire additional development projects across its target markets. The Fund now owns 61 development projects, representing 5.9 GW in net generation capacity, and approximately four times as many projects as the Fund needs to construct to be fully deployed.
Taaleri has one of the largest dedicated wind, solar and battery storage investment teams in Europe. The team is highly experienced in project development, deal sourcing, technical due diligence, transaction execution, construction and operations.
Industrial-scale business opportunities in renewable energy and bioindustry are at the core of Taaleri Group's strategy.
“We want to create attractive returns for our stakeholders and build a better future by combining our expertise with capital. Our renewable energy funds are an excellent example of this. The SolarWind III Fund’s investments will have significant and sustainable positive impacts in the countries and local communities where they are constructed. The renewable energy power and storage plants will generate green electricity for around 1.3 million households, offset an estimated 2.3 million of tonnes of CO2 emissions, reduce air pollution, improve grid infrastructure, create local employment, generate local and state tax revenues and increase energy security,” says Taaleri Group CEO Peter Ramsay.
For further information, please contact:
Peter Ramsay, CEO, Taaleri Group, +358 50 343 7493, peter.ramsay@taaleri.com
Kai Rintala, Director, Renewable Energy, +358 40 162 5711, kai.rintala@taaleri.com
Taaleri in brief
Taaleri is a Nordic investment and asset manager that focuses on businesses with industrial-scale opportunities within bioindustry and renewable energy. We create value by combining extensive know-how, deep expertise, entrepreneurship and capital through both funds under management and direct investments. We have been a signatory of the UN Principles for Responsible Investment (UNPRI) since 2010, and we joined the Net Zero Asset Managers initiative in 2021. Taaleri’s vision is to become a leading investment manager operating internationally in bioindustry and renewable energy.
Taaleri has EUR 2.6 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.