09.06.2021
TAALERI PLC PRESS RELEASE 9 JUNE 2021 AT 13:00 (EEST)
Taaleri’s SolarWind II fund exceeds its target size with final close commitments of EUR 354 million
The Taaleri SolarWind II fund has exceeded its target size of EUR 300 million with a final closing of EUR 354 million in total commitments. The fund’s anchor investors include the European Investment Bank, the European Bank for Reconstruction and Development, Varma Mutual Pension Insurance Company and Ilmarinen Mutual Pension Insurance Company.
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 Taaleri SolarWind II fund has generated significant interest from a broad range of domestic and international institutional investors. We are, of course, delighted that so many of those investors have chosen to invest in the fund and would like to thank them for their commitment,” said Stephen Ross, Head of Investor Relations, Taaleri Energia.
The fund has already secured its first seven investments, representing a significant proportion of its committed capital, in ready-to-build wind farms in Finland (3), Norway, Texas and Poland and in a ready-to-build solar farm in Spain. The three Finnish projects and the Texan project were all developed in-house.
“The Taaleri SolarWind II fund represents a significant milestone in our development and we appreciate the trust placed in us by our investors. With seven investments across our target markets completed to date, we are also very satisfied with our execution of the fund strategy thus far. Looking forward, we have an exceptionally strong deal pipeline and development portfolio that gives us confidence in our ability to continue to secure attractive investments for the fund,” said Kai Rintala, Managing Director, Taaleri Energia.
About Taaleri Energia
Taaleri Energia is a Helsinki based renewable fund manager and developer. With 40 professionals, Taaleri Energia has one of the largest dedicated wind and solar investment teams in Europe and manages 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:
Kai Rintala, Managing Director, Taaleri Energia, 358 40 162 5711, kai.rintala@taaleri.com
Stephen Ross, Head of Investor Relations, Taaleri Energia, 358 40 7337789, stephen.ross@taaleri.com
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 consists of Garantia Insurance Company Ltd.
Taaleri has EUR 1.7 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