Helsinki-based renewables developer and fund manager, Taaleri Energia, has successfully concluded a second closing for its Taaleri SolarWind III Fund, securing commitments totaling EUR 430 million (USD 476.4 million).
This achievement enables the fund to acquire new development projects, growing its portfolio to 61 schemes with a combined power generation capacity of 5.9 GW.
Launched in November 2022, the Taaleri SolarWind III Fund aims to raise EUR 600 million, with a maximum cap set at EUR 900 million. Operating in markets across the Nordic and Baltic regions, Poland, Southeastern Europe, Spain, and Texas, the fund has already initiated construction on a battery energy storage system in Finland. Additional projects, numbering between three to four, are slated to commence construction in 2024.
The fund, which remains open for new commitments until at least December 2024, was seeded with a portfolio of 50 onshore wind, solar, and battery storage projects that Taaleri Energia acquired 18 months prior to the first closing in July 2022.
Among the investors in the Taaleri SolarWind III Fund are the European Bank for Reconstruction and Development (EBRD), the European Investment Fund, KBC Verzekeringen, Varma Mutual Pension Insurance Company, Taaleri, and the Taaleri Energia team. The fund's strategic focus on expanding renewable energy infrastructure aligns with the broader push towards sustainable and diversified energy sources.