Taaleri Energia's latest fund acquires 91-MW Finnish wind project

Wind turbines at work. Author: Nick Cross. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.

July 17 (Renewables Now) - The latest fund of Helsinki-based renewable energy developer Taaleri Energia Ltd has acquired the 91-MW Oltava wind farm in Finland together with co-investors.

Hamburg Commercial Bank will provide debt financing for the investment by the SolarWind II Fund, Taaleri Energia said in a statement today.

The particular asset is a subsidy-free wind project currently being implemented in the municipality of Pyhajoki. Eltel Networks is building the facility as the Balance of Plant contractor, while Germany’s Nordex SE (ETR:NDX1) will supply and service 19 units of its 4.8-MW turbines, capable of generating some 290 GWh of electricity per year in total.

The wind park is seen to achieve full operations in the first quarter of 2021.

This is the first transaction of the particular fund. The energy unit of Finnish wealth manager Taaleri Plc (HEL:TAALA) announced the EUR-220-million (USD 247m) first close of SolarWind II Fund earlier this month. It expects the fund to finance some 850 MW of shovel-ready renewable energy projects, mostly located in Europe but also in the US.

(EUR 1.0 = USD 1.121)

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