Taaleri Energia launches 6th renewable energy fund

Helsinki-based renewables developer and fund manager Taaleri Energia on Thursday launched a new renewable energy investment fund that will have projects with a 3-GW capacity potential in its seed portfolio.

Dubbed Taaleri SolarWind III Fund, the new vehicle will seek to acquire, develop, contract, construct, operate and exit utility-scale onshore wind, solar and battery storage assets. It will focus on the Nordic and Baltic markets, Poland, Southeastern Europe, Iberia and Texas.

The fund’s first close is expected to be achieved at the start of next year. It will target a 10% net internal rate of return (IRR) over its 10-year term.

Taaleri SolarWind III Fund’s seed portfolio will consist of 25-35 development projects, which Taaleri Energia is in the process of acquiring with EUR 44 million (USD 43.6m) in development financing it secured in 2021. The Finnish fund manager has so far bought 17 development projects for its new fund and has 15 more schemes in exclusivity.

Provided that the projects in the seed portfolio become shovel-ready during the fund’s investment period, they will add 3 GW of power generation capacity with EUR 930 million in Fund and co-investor equity.

Taaleri SolarWind III Fund is Taaleri Energia’s sixth renewable energy fund.

(EUR 1.0 = USD 0.990)

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