The Taaleri SolarWind 3 Fund has conducted a second closing with €430 million in commitments.
This is Taaleri Energia’s sixth renewable energy fund. It shared that the fund has a target size of €600m and a hard cap of €900m. This is expected to remain open for new commitments for a year.
According to the company, the European Bank for Reconstruction and Development, the European Investment Fund, KBC Verzekeringen, Varma Mutual Pension Insurance Company, Taaleri and the Taaleri Energia team are the fund’s investors.
It has been reported that the Taaleri SolarWind 3 Fund is under Article 9 “Dark Green” Fund. This is regarded as the highest sustainability category under the EU Sustainable Finance Disclosure Regulation, a local report mentioned.
Furthermore, it has been reported that the company’s “investment strategy is to acquire, develop, contract, construct, operate and exit a portfolio of utility-scale onshore wind farms, PV solar parks and battery energy storage assets across the fund’s target markets.”
It has identified the Nordics & Baltics, Poland & Southeast Europe, Spain and Texas as the major markets.
As per the authorities, the fund was seeded with a portfolio of 50 renewable energy development projects, and now represents 5.9GW in net generation capacity.
“The SolarWind 3 Fund strategy follows on from the success of the SolarWind II Fund. We are operating in the same target markets, working together with the same strategic partners, but starting with a large portfolio of development projects,” Taaleri Energia managing director Kai Rintala, was quoted in a statement.
Meanwhile, Head of investor relations at Taaleri Energia Stephen Ross remarked, "The renewable energy power and storage plants that the Fund will construct will generate green electricity for around 1.3m households, offsetting an estimated 2.3m tonnes of CO2 emissions.”
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