TAALERI PLC PRESS RELEASE 3 DECEMBER 2019 AT 12:00 (EET)
Taaleri SolarWind I fund starts construction on a 14.4 MW wind farm in Sweden in the fund’s final investment
The Taaleri SolarWind I fund has commenced construction work on the 14.4 MW Målajord wind farm. The fund’s final investment is located in the municipality of Växjö in Southern Sweden.
With three Nordex N149 turbines and a total installed capacity of 14.4 MW, the wind farm’s annual production of electricity will be approximately 50 GWh. The wind farm will produce enough electricity to supply around 5,000 households and will offset the equivalent of 6,000 tonnes of carbon dioxide during each year of operation.
The project was developed by and co-optimised with BayWa r.e. who are also providing Engineering, Procurement and Construction Management services as well as Technical and Commercial Management services. The project is a natural continuation of Taaleri Energia’s existing collaboration with BayWa r.e., which started with the SolarWind I fund’s previous Swedish investment, the 23.4 MW Slageryd wind farm located some 40 kilometres from the Målajord site. Taaleri Energia’s technical team will be responsible for data monitoring and analytics of the wind farm’s production and Nordex will be responsible for maintaining the turbines under a 25-year contract. The wind farm is expected to reach full operation in the third quarter of 2021.
“We are very satisfied with the final investment from the Taaleri SolarWind I fund. This relatively small wind farm in Sweden is an ideal fit with the existing portfolio and the fund now has all of its assets either under construction or in operation”, said Taaleri Energia’s Managing Director, Kai Rintala.
“With experience of bringing more than 1,500 MW of wind power online across the world, this is the third successful wind park realisation and implementation for us in Sweden within a 12-month period, and the second with Taaleri. We are delighted to continue our valuable partnership with a leading renewables player like Taaleri Energia”, adds Håkan Wallin, CEO of BayWa r.e. Scandinavia AB.
About Taaleri SolarWind I and SolarWind II funds
The Taaleri SolarWind I fund has invested in four utility-scale wind and solar projects in Europe and internationally and is now fully invested.
The Taaleri SolarWind II fund invests in utility-scale wind and solar assets. The fund will invest in a diversified portfolio of predominantly ready-to-build assets in Europe (c.80%) and in the US (c.20%). It is estimated that the Taaleri SolarWind II fund will finance approximately 850 MW of renewable energy capacity, which will offset over 1 million tonnes of CO2 annually throughout the 25+ year lifetime of the assets.
The Taaleri SolarWind II fund’s first close investors include the European Investment Bank, Ilmarinen Mutual Pension Insurance Company, Varma Mutual Pension Insurance Company, Taaleri Plc, the Taaleri Energia team and a wide range of pension funds, foundations, endowments and family offices.
About Taaleri Energia
Taaleri Energia is a Helsinki based renewable fund manager and developer. Taaleri Energia has one of the largest dedicated wind and solar investment teams in Europe. Taaleri Energia currently manages a 1.6 GW international portfolio of wind and solar assets and is also the largest private equity owner-operator in the Finnish wind market, with 129 turbines producing over 1% of all the country’s electricity.
Taaleri Energia is part of the Taaleri Group, which is listed on the Nasdaq Helsinki stock exchange.
www.taalerienergia.com
About BayWa r.e.
BayWa r.e is a leading global developer, service supplier, wholesaler and energy solutions provider. Part of the €16 billion BayWa Group, every day BayWa r.e is working hard to find new solutions, push technological boundaries and actively shape the future of energy.
https://www.baywa-re.com/en/
Taaleri Plc
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For more information, please contact:
Kai Rintala, Managing Director, Taaleri Energia, +358 40 162 5711, kai.rintala@taaleri.com
Stephen Ross, Head of Investor Relations, Taaleri Energia, +358 40 733 7789, stephen.ross@taaleri.com
Not for release, publication or distribution in or into the United States or any other jurisdiction in which the release, publication or distribution would be prohibited by applicable law or would require registration or other measures to be taken.
Taaleri in brief
Taaleri is a Finnish financial services company, whose parent company, Taaleri Plc, is listed on Nasdaq Helsinki main market. The Taaleri Group comprises three business areas: Wealth Management, Financing, and Energy. In addition, the Group makes investments from its own balance sheet.
At the end of June 2019, Taaleri had assets under management totalling EUR 6.6 billion and 5,300 wealth management customers. Taaleri Plc has some 4,300 shareholders. Taaleri’s operations are supervised by the Finnish Financial Supervisory Authority.
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Sophie Jolly, Head of Communications and IR, tel. +358 40 828 7317, sophie.jolly@taaleri.com