TAALERI PLC STOCK EXCHANGE RELEASE 16 JUNE 2020 AT 19.30 EET
Taaleri Energia successfully exits its first wind project in the U.S.
Taaleri Energia has sold 93% of its U.S. wind project, Truscott Gilliland East, to the Taaleri SolarWind II fund, AIP, Mutual Pension Insurance Company Ilmarinen and Akuo Energy. Taaleri Energia will remain as a minority owner with a 7% equity stake in the project. The transaction will not have a result impact on the January-June 2020 result as the profit impacts from the project will be booked later. Taaleri Plc’s guidance, given 17 April 2020, for January-June 2020 is unchanged.
Taaleri Energia acquired its first U.S. wind project in January 2018. The ready to build project has been developed in-house by Taaleri Energia following the acquisition from its development partner NorthRenew Energy.
Financing for the investment, in the form of tax equity, will be provided by BHE Renewables (a subsidiary of Berkshire Hathaway Energy) and construction financing by NORD/LB, Mizuho, Santander and Societe Generale.
The wind farm is located in Knox County, Texas, and represents a 336 MW and USD 450 million plus investment in the North American renewable energy sector. The wind farm will, when constructed, produce enough electricity to supply around 115,000 households and will offset the equivalent of 604,000 tonnes of carbon dioxide during each year of operation.
About Taaleri Energia
Taaleri Energia is a Helsinki based renewable fund manager and developer and is part of Taaleri Group. Taaleri Energia has one of the largest dedicated wind and solar investment teams in Europe. Taaleri Energia currently manages a 1.6 GW portfolio of wind and solar assets and is also the largest private equity owner-operator in the Finnish wind market, with 116 turbines producing approximately 1.4% of all the country’s electricity. Taaleri Energia is part of the Taaleri Group, which is listed on the Nasdaq Helsinki stock exchange.
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Minna Smedsten, Chief Financial Officer, Taaleri Plc, tel. 358 40 700 1738, firstname.lastname@example.org
Kai Rintala, Managing Director, Taaleri Energia, tel. 358 40 162 5711, email@example.com
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, Financing, and Energy. In addition, the Group makes investments from its own balance sheet.
At the end 2019, Taaleri had assets under management totalling EUR 7.1 billion and 5,500 wealth management customers. Taaleri Plc has some 4,700 shareholders. Taaleri’s operations are supervised by the Finnish Financial Supervisory Authority.
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