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Taaleri’s SolarWind II fund announces its third close at EUR 320 million

Taaleri Oyj
·4-min read

TAALERI PLC PRESS RELEASE 17 DECEMBER 2020 12:00 (EET)

Taaleri’s SolarWind II fund announces its third close at EUR 320 million

The Taaleri SolarWind II fund has held a third closing with approximately EUR 320 million in total commitments. The third-close investors include Obligo Global Infrastuktur II Fund, YLE Pension Fund, the Nordic Environment Finance Corporation (NEFCO), institutional and high net worth investors and the Taaleri Group. Additionally, the Finnish Church Pension Fund joined the fund in June 2020.

NEFCO will join EBRD in the Taaleri SolarWind II CEE fund. This parallel fund invests alongside the main fund in investments in the Baltics, Poland and Southeast Europe.

With a number of institutional investors currently in active due diligence, it is expected that there will be continued demand in future closings. The Taaleri SolarWind II fund will remain open to new investors until June 2021 and has a hard cap of EUR 400 million.

The Taaleri SolarWind II fund invests in utility-scale wind and solar assets. The fund will invest in a diversified portfolio of predominantly ready-to-build assets in Europe (c.80%) and in the US (c.20%). The fund has already secured its first seven investments, in ready to build wind farms in Finland (3), Norway, the US, Poland and in a ready to build solar farm in Spain.

It is estimated that the Taaleri SolarWind II 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.1

“We are delighted that the fund has exceeded its target size and would like to thank all of our investors for their support,” said Stephen Ross, Head of Investor Relations, Taaleri Energia.

“We have committed to the first seven investments from the fund and with an extensive active deal pipeline across all of our target markets we would expect this investment pace to continue in 2021,” comments Kai Rintala, Managing Director, Taaleri Energia.

Taaleri Energia’s dedicated team of 33 people is highly experienced in wind and solar project development, deal sourcing, technical due diligence, transaction execution, financing, construction and operations. Taaleri Energia was recognised as a “Consistent Top Performing Infrastructure Manager” in the 2020 Preqin Global Infrastructure League Tables.

1 The estimated impacts are calculated using the Fund’s base case assumptions and CO2 offsets are calculated using the European Investment Bank’s methodology.

About the Taaleri SolarWind II fund

The SolarWind II fund invests in utility-scale wind and solar assets. The fund will invest in a diversified portfolio of predominantly ready-to-build assets in Europe (c.80%) and in the US (c.20%). It is estimated that the Taaleri SolarWind II 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, YLE Pension Fund, the Nordic Environment Finance Corporation, 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 Helsinki based renewable fund manager and developer. With 33 professionals, Taaleri Energia has one of the largest dedicated wind and solar investment teams in Europe and manages a 1.6 GW portfolio of wind and solar assets.

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.

www.taalerienergia.com

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

Not for release, publication or distribution in or into the United States or any other jurisdiction in which the release, publication or distribution would be prohibited by applicable law or would require registration or other measures to be taken.


Taaleri in brief

Taaleri is a Finnish financial services company, whose parent company, Taaleri Plc, is listed on Nasdaq Helsinki main market. The Taaleri Group comprises three business areas: Wealth Management, Insurance, and Energy. In addition, the Group makes investments from its own balance sheet. At the end of June 2020, Taaleri had assets under management totalling EUR 7.1 billion and 5,700 wealth management customers. Taaleri Plc has some 5,200 shareholders. Taaleri’s operations are supervised by the Finnish Financial Supervisory Authority.

More information about our company and services:
www.taaleri.com/en
www.taalerivarainhoito.com/en
www.taalerienergia.com
www.taalerikapitaali.com/en
www.garantia.fi/en

www.fellowfinance.fi/en

Minna Smedsten, Chief Financial Officer, tel. +358 40 700 1738, minna.smedsten@taaleri.com