03.11.2022
TAALERI PLC INVESTOR NEWS 3 NOVEMBER 2022 AT 11.00 (EET)
Finland's largest wind power producer Taaleri announces its sixth renewable energy fund
Private asset manager Taaleri announces its sixth renewable energy fund, the Taaleri SolarWind III Fund. The fund will be 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 investment strategy will be 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, Iberia and Texas.
The fund will be seeded with a portfolio of 25–35 development projects that Taaleri Energia has assembled. There are currently 17 development projects in the portfolio. If these projects were all to reach ready-to-build status, they would represent 3 GW of installed electricity generating capacity.
“The demand for renewable energy projects across our target markets has increased significantly over recent years, with a marked additional increase in demand over the past 12 months. By securing development projects early we have been able to lock in considerable potential future value for the SolarWind III Fund,” comments Kai Rintala, director of Taaleri’s renewable energy business.
Taaleri has one of the largest dedicated wind and solar investment teams in Europe. The team is highly experienced in wind and solar project development, deal sourcing, technical due diligence, transaction execution, construction and operations.
Renewable energy and sustainable development are at the core of Taaleri Group's strategy. Taaleri’s private asset management business focuses on renewable energy, bioindustry and real estate businesses.
“We use capital and our expertise to build a better future, and our renewable energy funds are an excellent example of this. The investments will have significant and sustainable positive impacts in the countries and local communities where they are constructed. They will offset CO2 emissions, reduce air pollution, improve grid infrastructure, create local employment, generate tax revenues and increase energy security,” says Taaleri Group CEO Peter Ramsay. “Our goals for the new fund are ambitious: we aim to double the size of Taaleri SolarWind II, which is approximately EUR 350 million.”
In Finland, Taaleri is the largest wind power operator with 382 MW of operational capacity through its funds and investment mandates (June 2022). In total, Taaleri Energia manages a 1.8 GW under construction and operational wind and solar portfolio in Europe, the US, and the Middle East.
The Taaleri SolarWind II Fund won the Private Equity Wire ESG AAA European Award for Best ESG Fund: Energy Transition / Clean Energy in September 2022.
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 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, and we joined the Net Zero Asset Managers initiative in 2021. 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 and bioindustry businesses. The Strategic Investments segment includes Garantia Insurance Company Ltd.
Taaleri has EUR 2.4 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.