Taaleri Energia locks EUR 44 million for more wind, solar

Helsinki-based fund manager Taaleri Energia, part of Finland’s Taaleri Plc (HEL:TAALA), has obtained EUR 44 million (USD 49.6m) in funding for the construction of a wind-solar portfolio across Europe and the US.

The bundle includes 20-30 wind and solar photovoltaic (PV) schemes in the early, mid and late stages of development, located in the Nordic and Baltic markets, Poland, South East Europe, Iberia and Texas. The projects will provide “attractive investment opportunities” for Taaleri Energia Funds Management’s renewable energy funds, the Finnish group said on Tuesday.

The financing was extended by an unnamed European infrastructure debt specialist, two Finnish family offices and Taaleri Energia.

“With this funding we are doubling down on development,” said Taaleri Energia’s managing director Kai Rintala. He pointed out that entering into wind and solar projects at an earlier phase is a better-value investment that offers higher returns.

Taaleri Energia owns 2.8 GW of wind and solar assets in Europe, the US and the Middle East. It is currently investing its fifth renewable energy fund – Taaleri SolarWind II.

(EUR 1.0 = USD 1.127)

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