The Taaleri SolarWind III Fund, which marks Taaleri Energia’s sixth renewable energy fund is classified as a “dark green” fund and exclusively invests in sustainable projects that make a substantial contribution to climate change mitigation. Furthermore, the fund places significant emphasis on reporting the sustainability impact of its investments.
Key investors participating in the first closing include the Aktia Aurinkotuuli III Fund, the European Investment Fund, Varma Mutual Pension Insurance Company, Taaleri, and the Taaleri Energia team. Finnish pension funds, foundations, endowments, family offices, and individual investors, primarily through the Aktia Aurinkotuuli III Fund, have shown strong support for the fund. With a considerable number of investors actively conducting due diligence, future closings are expected to attract continued robust demand.
At the first closing, the fund acquired a portfolio of 50 development projects from Taaleri Energia. This transaction will be instrumental in seeding the fund. As previously announced, Taaleri Group anticipates a profit of approximately EUR 8 million in the second quarter of the year. The sale of the projects includes the potential for an earn-out based on the progress of the fund’s projects. If all these projects reach the ready-to-build stage, they will represent a total installed electricity generating capacity of 7.7 GW.
The fund’s investment strategy focuses on the acquisition, development, contracting, construction, operation, and divestment of a portfolio consisting of utility-scale onshore wind farms, photovoltaic solar parks, and battery storage assets. The target markets for the fund encompass the Nordics & Baltics, Poland, Southeast Europe, Spain, and Texas.
“The demand for renewable energy projects across our target markets has increased significantly over recent years, with a marked additional increase in demand over the past 18 months. By securing development projects early we have been able to lock in considerable potential future value for the SolarWind III Fund,” says Kai Rintala, director of Taaleri’s renewable energy business.
Taaleri boasts one of Europe’s largest dedicated teams for wind, solar, and battery storage investments. The team possesses extensive expertise in project development, deal sourcing, technical due diligence, transaction execution, construction, and operations.
Renewable energy and sustainable development are integral to the core strategy of Taaleri Group. The company’s private asset management business places a strong emphasis on renewable energy, bioindustry, and real estate ventures.
“We use capital and our expertise to build a better future, and our renewable energy funds are an excellent example of this. The SolarWind III Fund’s investments will have significant and sustainable positive impacts in the countries and local communities where they are constructed. The renewable energy power and storage plants will generate green electricity for around 1.3 million households, offset an estimated 2.3 million of tonnes of CO2 emissions, reduce air pollution, improve grid infrastructure, create local employment, generate local and state tax revenues and increase energy security,” says Taaleri Group CEO Peter Ramsay.
“Although macroeconomic changes have brought uncertainty and fundraising challenges to our entire industry, we have a world-class product and first-class distribution. I would especially like to acknowledge Aktia, which with its Aktia Aurinkotuuli III fund managed to exceed our expectations and collect a large number of investments from individual investors and Finnish institutional investors, such as foundations, pension funds and associations. This milestone helps us to continue our fundraising work among domestic and international institutions towards the next closings of the fund”, says Mikko Ervasti, Head of Sales at Taaleri Group.