- The 6th renewable energy fund of Taaleri Energia will develop utility scale onshore wind, solar PV and battery storage assets
- It will acquire, develop contract, construct, operate and exit the assets in select geographies in Europe and the US
- The fund is seeded with 17 projects already representing around 3 GW capacity
Nordic investment and asset manager Taaleri Energia has launched the Taaleri SolarWind III Fund to acquire, develop contract, construct, operate and exit a portfolio of utility scale onshore wind, solar PV parks along with battery storage assets across its target markets in Europe and the US.
Classified as an Article 9 ‘Dark Green’ Fund which is the highest sustainability category under the European Union’s (EU) Sustainable Finance Disclosure Regulation, according to Taaleri, it will focus on the Nordics and Baltics, Poland, Southeast Europe, Iberia and Texas.
So far, the fund has acquired 17 development projects for the fund’s seed portfolio, out of the seeding target of 25 to 35 development projects. For this, it is using €44 million in development financing raised by the company in December 2021 (see Europe PV News Snippets).
These 17 seed projects would represent 3 GW capacity once these reach ready-to-build (RTB) status and require €930 million in fund and co-investor equity to construct, it added. For another 15 projects, it has secured exclusivity.
It is Taaleri’s 6th renewable energy fund and follows SolarWind II Fund launched in 2019 which is now more than 90% committed and has completed 11 investments in Croatia, Finland, Lithuania, Norway, Poland, Spain and Texas.
“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,” said Taaleri’s Managing Director Kai Rintala.
“Sustainability and impact measurement are increasingly important for investors,” added Taaleri’s Head of Investor Relations Stephen Ross. “The renewable energy power and storage plants that the Fund will develop and build will offset millions of tons of CO2 emissions, reduce air pollution, improve grid infrastructure, create local employment, generate local and state tax revenues and increase energy security.”