Helsinki, 2016-06-10 09:00 CEST (GLOBE NEWSWIRE) --
Taaleri financing group is establishing a new energy company, Taaleri Energia Oy, and significantly expanding its operations in the energy sector. The energy business will form its own business segment within Taaleri alongside wealth management and financing. Taaleri is aiming to increase its managed assets committed to energy to over EUR 1.5 billion within three years.
“We want to be a part of the transition of the energy sector, which is redistributing the market. Fossil energy production is being run down through political decisions, which guides the movements of capital within the sector in Finland and internationally. Energy is a natural area of expansion for our business operations,” says Taaleri Plc CEO Juhani Elomaa.
“Our private equity funds are already a unique opportunity for our customers to own Finnish business and, in the future, also increasingly the energy sector. The sector has been mostly owned by large energy companies, but a new kind of ownership model, in which even private persons can own industrial-scale investments, will certainly shape the entire market.”
Taaleri has invested over EUR 600 million in building renewable energy in Finland through two wind power funds and a biofactory fund. The recently opened third wind power fund is currently collecting a capacity of approximately EUR 200 million for wind farm investments.
Taaleri’s expansion to the energy field is predicted to increase the assets managed by Taaleri’s private equity funds by approximately EUR 800 million on top of the current programmes over the next three years. The capital is primarily committed to new investments made through funds. Corporate acquisitions in Finland and abroad are also possible.
“We are already the second largest wind farm developer in Finland with our current investments. Established in the autumn, Taaleri Energy will channel Finnish ownership into renewable energy, such as wind and solar power, as well as into existing energy sources and networks. The energy business segment will also be connected to Taaleri’s internationalisation goal.”
At first, Taaleri Energy will employ approximately 20 people, most of whom already work for Taaleri. Several key persons will also be recruited during the summer. Taaleri Group will report in accordance with the new segment division starting 1 July 2016.
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Taaleri in brief
Taaleri is a financial group whose parent company, Taaleri Plc, is listed on the main list of the Helsinki Stock Exchange. Taaleri provides wealth management and financing services to institutional investors, companies and private individuals. Taaleri Group currently consists of the parent company Taaleri Plc and four operational subsidiaries: Taaleri Wealth Management Ltd and its subsidiaries, Taaleri Private Equity Funds Ltd and its subsidiaries, Taaleri Investment Ltd and Garantia Insurance Company Ltd. In addition, Taaleri has an associated company, Fellow Finance Oy, which offers peer-to-peer lending services. The Group has over 180 employees. Its offices are located in Helsinki, Tampere, Turku, Pori, Oulu, Istanbul and Nairobi.
At the end of 2015, Taaleri had assets under management of EUR 3.9 billion and 3,500 wealth management clients. Taaleri Plc has more than 2,400 shareholders. The operations of Taaleri are supervised by the Finnish Financial Supervisory Authority.
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