TAALERI PLC PRESS RELEASE 11 September 2019 4:00 PM EET
Taaleri SolarWind II fund invests in a 34 MW wind farm in Norway in the fund’s second transaction
The Taaleri SolarWind II fund has acquired 100% ownership of the Haram wind farm. The wind farm is located in the county of Møre og Romsdal, in western Norway, around 20 kilometers north of Ålesund.
Construction works on the Haram wind farm will start shortly, and with 8 Vestas 4.2 MW turbines and an installed capacity of 34 MW, the wind farm’s annual production of electricity will be approximately 112 GWh. The wind farm will produce enough electricity to supply around 7,000 households and will offset the equivalent of 14,000 tonnes of carbon dioxide during each year of operation.
The project was developed by Zephyr who will continue as the construction management consultant and as the technical and commercial management provider during the operational phase. Taaleri Energia’s technical team will be responsible for data monitoring and analytics of the wind farm’s production and Vestas will be responsible for maintaining the turbines under a 27-year contract. The wind farm is expected to reach full operations in the first quarter of 2021.
“We are very satisfied with the second investment from the Taaleri SolarWind II fund. This investment in Norwegian wind is underpinned by the availability of commercial offtake contracts in one of the world’s most liquid power markets. It also demonstrates the value of our developer network and in-house technical expertise, as well as the strength of our deal pipeline and our ability to efficiently deploy the fund’s committed capital”, said Taaleri Energia’s Managing Director, Kai Rintala.
About SolarWind II
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 first close investors include the European Investment Bank, Ilmarinen Mutual Pension Insurance Company, Varma Mutual Pension Insurance Company, Taaleri Plc, 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. Taaleri Energia has one of the largest dedicated wind and solar investment teams in Europe. Taaleri Energia currently manages a 1.1 GW (gigawatt) portfolio of wind and solar assets and is also the largest private equity owner-operator in the Finnish wind market, with 110 turbines producing approximately 1% of all the country’s electricity. Taaleri Energia is part of the Taaleri Group. www.taalerienergia.com
Zephyr was established in 2006 and is currently one of the leading Norwegian companies involved in the development, construction and operation of wind farms in Norway. Zephyr has built wind farms with a total installed capacity of more than 300MW, and has a development portfolio with a further 450MW. Zephyr is owned by the energy companies Østfold Energi (50%), Vardar (25%) and Glitre Energi (25%). http://www.zephyr.no
For more information, please contact:
Kai Rintala, Managing Director, Taaleri Energia, 358 40 162 5711, firstname.lastname@example.org
Stephen Ross, Head of Investor Relations, Taaleri Energia, 358 40 733 7789, email@example.com
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Taaleri in brief
Taaleri is a Finnish financial service company, whose parent company Taaleri Plc is listed on Nasdaq Helsinki's, Finland, 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 of June 2019, Taaleri had assets under management totalling EUR 6.6 billion and 5,300 wealth management customers. Taaleri Plc has some 4,300 shareholders. Taaleri’s operations are supervised by the Finnish Financial Supervisory Authority.
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