TAALERI PLC PRESS RELEASE 20 MARCH 2018
Taaleri Energia signs an extensive wind power agreement with Fortum
Taaleri has concluded a significant, multi-year agreement with Fortum for the purchase and sale of wind power in the Nordic electricity market. The agreement period will begin on 1 April 2018.
As a result of a competitive process organised by Taaleri, Fortum will purchase the entire annual wind power production from Taaleri’s portfolio in Finland. The total installed capacity of the portfolio is 312 MW, and its annual output approximately 1 TWh, which represents around 1.5 percent of Finnish electricity production in 2017.
“We have been systematically building our strategy in renewable energy. As a result of our cooperation, we are able to combine Taaleri’s significant expertise in renewable energy with Fortum’s extensive knowledge of the Nordic electricity market,” says Taaleri Energia's Production Manager Olli Hagqvist.
Under the agreement, Fortum will commit to buying the wind power produced by Taaleri’s portfolio consisting of 13 wind farms, and to selling it on the Nordic electricity market via the NordPool electricity exchange.
“Taaleri’s wind power portfolio is amongst the largest in Finland, as is the wind power purchase and balancing agreement that has now been concluded. We will assist Taaleri in getting the emissions-free power onto the Nordic electricity market. At the same time, this will support the development of our own expertise in wind power,” says Saara Rantanen, Originator at Fortum.
“As a result of the agreement, we will be able to support Fortum in a meaningful manner in its aim of increasing its share of electricity produced using renewable energy in the Nordic electricity market. Our production of renewable energy will reduce the amount of carbon dioxide emitted into the atmosphere,” adds Olli Hagqvist.
Taaleri Energia is focused on development and long-term ownership of renewable energy assets and a subsidiary of Taaleri Plc. Taaleri Energia is an energy infrastructure developer and investor, managing energy infrastructure assets over their entire lifecycle.
The number of Taaleri’s international projects and investments is growing. Currently Taaleri Energia manages a 750 MW portfolio of renewable energy assets under construction and in operation in Finland, Serbia and Jordania.
Olli Hagqvist, Production Manager, Taaleri Energia, tel. +358 50 551 4458
Saara Rantanen, Originator, Fortum, tel. +358 40 552 2244
Taaleri in brief
Taaleri is a Finnish financial service company, whose parent company Taaleri Plc is listed on Nasdaq Helsinki's main market. The Taaleri Group comprises three business areas: Wealth Management, Financing, and Energy. Taaleri provides services to institutional investors, companies and private individuals. The Group’s operational subsidiaries are: Taaleri Wealth Management Ltd and its subsidiaries, Taaleri Private Equity Funds Group, Taaleri Investments Group, Taaleri Energia Oy Group and Garantia Insurance Company Ltd. In addition, Taaleri has associated companies Fellow Finance Plc, which offers peer-to-peer lending services, Inderes Oy, which produces analyses and market information for investors, and Ficolo Oy developing data centers.
At the end of December 2017, Taaleri had assets under management totaling 5.6 billion euro and 4,400 wealth management customers. Taaleri Plc has some 3,900 shareholders. Taaleri's operations are supervised by the Finnish Financial Supervisory Authority.
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