Taaleri SolarWind III Fund invests in a 129 MWp solar farm in Finland

TAALERI ENERGIA          PRESS RELEASE          2 FEBRUARY 2025 AT 10:11 (EET)

Taaleri SolarWind III Fund invests in a 129 MWp solar farm in Finland

The Taaleri SolarWind III Fund has invested in Hallanvahti, a solar farm located in Joroinen, Finland, approximately 300 kilometres northeast of Helsinki. 

The project has reached Ready-to-Build status, with construction ongoing and full operations expected by mid 2026. The Hallanvahti solar farm will consist of bifacial panels and single-axis trackers. With an estimated annual electricity production of approximately 140 GWh, the solar farm will generate enough green electricity to supply around 18,000 households and facilitate the reduction of approximately 29,300 tonnes of carbon dioxide annually throughout its operating life. 

The Hallanvahti project was developed by Etec Automation and its subsidiary, 3Flash Finland, a leading solar developer in Finland, together with the Taaleri Energia team. Eltel Networks has been contracted to deliver engineering, procurement, and construction services for the project.

In June 2024, the project received a grant from the Ministry of Economic Affairs and Employment of Finland amounting to EUR 17 million, and up to a maximum of 20% of the actual capital expenditures. The remaining investment will be funded with equity and senior debt.

“We are excited to announce this investment. The Hallanvahti project represents a strategic entry into Finland’s solar photovoltaic market," says Petri Isotalus, Investment Director at Taaleri Energia.

This operation benefits from support from the European Union under the InvestEU Fund.

About the Taaleri SolarWind III Fund

The Taaleri SolarWind III Fund’s investment strategy is to acquire, develop, contract, construct, operate and exit a portfolio of utility scale onshore wind farms, photovoltaic solar parks and battery storage assets across the Fund’s target markets. 

The Taaleri SolarWind III Fund has a target size of EUR 600 million and will remain open to new investors until June 2025. The Fund has to-date made investment commitments totalling c. EUR 240 million. 

The Fund currently owns 60 projects, representing c. 6 GW in net generation capacity. Based on the development portfolio, we expect to invest c. 50% of the Fund in the Nordics & Baltics, c. 25% in Poland & Southeast Europe, c. 15% in Spain and c. 10% in Texas.

The Taaleri SolarWind III Fund is classified as an Article 9 Fund. 

The Fund’s investors include the European Bank for Reconstruction and Development, the European Investment Fund, KBC Verzekeringen (in partnership with EIF), Varma Mutual Pension Insurance Company, an Austrian pension fund, an Austrian bank, a Swiss asset manager, Taaleri and the Taaleri Energia team. Finnish pension funds, foundations, endowments, family offices and individual investors are also strong supporters of the Fund, investing through a fund managed by Aktia Bank.

About Taaleri Energia

Taaleri Energia is a renewable energy fund manager with one of the largest dedicated renewables investment teams in Europe. The team manages a 9.3 GW wind, solar and battery storage portfolio in Europe and the US.

Preqin has classified Taaleri Energia as one the leading fund managers in the infrastructure sector.

Taaleri Energia is part of the Taaleri Group, which is listed on the Nasdaq Helsinki stock exchange.

www.taalerienergia.com/en

For more information, please contact:

Petri Isotalus, Investment Director, Taaleri Energia, +358 40 827 6516
petri.isotalus@taaleri.com

Stephen Ross, Head of Investor Relations, Taaleri Energia, +358 40 733 7789
stephen.ross@taaleri.com