Taaleri Energia has some very good news! They announced the final close of their Taaleri SolarWind III Fund, with commitments of €630 million (~$736.28 million), surpassing their target. With this fund, Taaleri reaches its sixth initiative in renewable energy. It hopes to attract 27 billion dollars of international investments to develop utility-scale onshore wind projects, solar parks, and battery energy storage systems (BESS).
Taaleri’s SolarWind III Fund has attracted an impressive array of investors. This has attracted a variety of investors, including Finnish pension funds, endowments, foundations, and family offices. Retail investors bought in as well through an Aktia Bank managed fund. Interestingly, the fund has a strong co-investment focus with €74 million of these commitments as co-investments.
The Taaleri SolarWind III Fund is busy, with €360 million committed to date. This investment covers 50 such projects mostly with an emphasis on wind, solar and battery energy storage system (BESS) technologies. Collectively, these investments total a huge capacity of 7 gigawatts (GW). The fund’s first target core markets are the Nordics countries, Poland, the Baltic countries, southeast Europe and Spain.
While the fund’s capital will ultimately be deployed over a shorter timeframe, the length of time required to make commitments is projected at 18 to 24 months. During this investment period, Taaleri strives to further expand its renewable energy footprint in targeted European markets.
Ross, Stephen, head of investor relations at fund manager Taaleri Energia told Recharge that they were very pleased with the fund’s performance.
“We are delighted by the strong interest the Taaleri SolarWind III Fund has attracted from a broad range of institutional investors. At almost twice the size of its predecessor, the Fund welcomed new investors from Austria, Belgium, Bulgaria, Estonia, Finland, France, Romania, Spain and Switzerland.” – Stephen Ross, Taaleri Energia investor relations head.
This major infrastructure investment is a major coup for Taaleri Energia. The settlement agreement allows the company to keep its momentum in growing its portfolio of renewable energy resources. The Taaleri SolarWind III Fund will be ideally placed to take a leading role in developing sustainable energy investments across Europe.