Taaleri acquires 50-MWp shovel-ready solar project in Spain

Finnish wealth manager Taaleri Plc (HEL:TAALA) said today that its Taaleri SolarWind II fund purchased 100% ownership of the 50-MWp Niebla solar project located in Spain's southern region of Andalusia.

The Niebla project was in the ready-to-build stage when it was acquired. It was developed by Spanish PV specialist Valfortec in co-operation with Taaleri Energia, the Finnish firm said.

Spanish bank Banco de Sabadell SA (BME:SAB) is set to provide the project financing, while Centrica Energy Trading will manage the majority of Niebla's output under a long term financial power purchase agreement (PPA), Taaleri added.

The Niebla solar farm will be built in the municipality of San Juan del Puerto. Construction works are slated to commence in December, while full operations can be expected in the third quarter of 2022.

Once online, the plant is expected to generate approximately 107 GWh per year.

"Operating out of our office in Madrid, we have been steadily building our market understanding and developer network over the past three years and we expect to continue to be an active investor in Spanish solar projects”, added Taaleri Energia’s Investment Director, Petri Isotalus.

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