Taaleri’s SolarWind II achieves closing at EUR 354m

Finnish wealth manager Taaleri Plc (HEL:TAALA) has secured EUR 354 million (USD 430.7m) worth of commitments in the final closing of its SolarWind II fund, exceeding its initial target.

The fund’s target size was EUR 300 million, the Finnish group said on Wednesday.

With the funds in place, Taaleri SolarWind II is expected to finance around 850 MW of renewable energy capacity, in line with its goal of investing in utility-scale wind and solar projects with a shovel-ready status. It will focus on the Nodric and Baltic countries, Poland and South-East Europe and Texas.

To date, the fund has completed seven investments, all of which involve ready-to-build projects. The list includes three wind schemes in Finland, as well as projects in Norway, Texas, Poland and Spain.

“Looking forward, we have an exceptionally strong deal pipeline and development portfolio that gives us confidence in our ability to continue to secure attractive investments for the fund,” said Kai Rintala, managing director of Taaleri Energia.

The European Investment Bank, the European Bank for Reconstruction and Development, Varma Mutual Pension Insurance Company and Ilmarinen Mutual Pension Insurance Company are among the anchor investors.

(EUR 1.0 = USD 1.217)

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