Taaleri SolarWind III invests in a 192 MW / 420 MWh battery energy storage system in Estonia

TAALERI ENERGIA | PRESS RELEASE | 23 SEPTEMBER 2026 AT 12:45 (EEST)

Taaleri SolarWind III invests in a 192 MW / 420 MWh battery energy storage system in Estonia

Taaleri Energia’s SolarWind III Fund has invested in the 192 MW / 420 MWh Raudsepa battery energy storage system (“BESS”) project located in Estonia, approximately 50 kilometres south of Tartu.

The SolarWind III Fund, a SolarWind III Fund co-investor, and KJK Fund III, a fund managed by KJK Capital, are joint owners of the project.

The construction of the project will start in September 2026, with the BESS expected to be fully operational by November 2027.

The project was developed by Evecon, a leading renewable energy developer in the Baltics, in partnership with a French independent power producer Corsica Sole. The project will be constructed and installed on a turnkey basis by Estonian contractor Smartecon. The project will use LG Energy Solution’s battery storage equipment and European made inverters from Power Electronics.

The BESS will operate under a multi-market optimisation strategy, capturing value from both electricity arbitrage and ancillary services markets.

“This investment marks the SolarWind III Fund’s first BESS project in Estonia and underscores our confidence in the market. With high power price volatility and the phase-out of oil-fired generation, Estonia represents a compelling battery storage investment opportunity,” says Ville Rimali, Investment Director, Energy Storage at Taaleri Energia.

“This investment is Taaleri Energia’s fifth in the Baltic countries. We are very pleased with our portfolio in the Baltics and proud to be part of the energy transition journey in the region” says João Neto, Investment Director at Taaleri Energia.

“We are happy to combine forces to develop this project together with Taaleri Energia. Raudsepa, when operational, will be the largest in the entire Nordic and Baltic region. Baltic markets have long been the focus of KJK Capital, and we are pleased to expand into the energy sector as well” says Markus Mustakallio, Investment Director at KJK Capital.

About the Taaleri SolarWind III Fund

The Taaleri SolarWind III Fund is Taaleri Energia’s sixth renewable energy fund. It pursues a value-add investment strategy, acquiring and developing utility-scale onshore wind, solar and battery energy storage projects through construction and operation before exit. The main target markets are the Nordics, the Baltics, Poland, Southeast Europe and Spain.

The fund and its associated co-investment vehicles have total commitments of EUR 630 million, including EUR 74 million of co-investment commitments. To date, the SolarWind III Fund has made investment commitments totalling EUR 425 million.

The fund’s investors include Erste Group Bank AG, the European Bank for Reconstruction and Development, the European Investment Fund, Ilmarinen Mutual Pension Insurance Company, KBC Verzekeringen (in partnership with EIF), SmartCap, Varma Mutual Pension Insurance Company, VBV Pensionskasse, and other European institutional investors.

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.

The fund is classified as an Article 9 fund under the Sustainable Finance Disclosure Regulation (SFDR) and benefits from support from the European Union under the InvestEU Fund. SmartCap’s Green Fund is financed by the European Union through the NextGenerationEU Recovery and Resilience Facility.

About Taaleri Energia

Taaleri Energia is a renewable energy fund manager with one of the largest dedicated renewables investment teams in Europe. Taaleri Energia develops, constructs, operates and exits onshore wind, solar and battery energy storage assets that drive the global transition to clean energy. Taaleri Energia has EUR 1.4 billion of assets under management.

Taaleri Energia is part of the Taaleri Group. Taaleri is a specialist in investments, private asset management and non-life insurance, powering change with capital. Taaleri has EUR 2.7 billion of assets under management. The company employs approximately 140 people. Taaleri Plc is listed on Nasdaq Helsinki.

https://taaleri.com/renewable-energy/

About KJK Capital

KJK Capital is an independent, partner-owned asset manager founded in 2010, focused on private equity in the Baltic and Balkan markets — Estonia, Latvia, Lithuania, Slovenia, Croatia, Serbia, Bulgaria and Romania — with a combined AUM of EUR 500 million. Through 8 offices across the region, KJK combines local expertise with international best practices to give institutional investors access to opportunities that would otherwise be difficult to reach.

The KJK Capital group consists of KJK Capital Luxembourg, which holds a Luxembourg AIFM license and is regulated by the Luxembourg Commission de Surveillance du Secteur Financier (CSSF), and KJK Capital Oy, which is regulated by the Finnish Financial Supervisory Authority (FIN-FSA).

For more information, visit www.kjkcapital.com

For additional information, please contact:

Ville Rimali, Investment Director, Energy Storage, Taaleri Energia, +358 41 435 6268,

ville.rimali@taaleri.com

João Neto, Investment Director, Taaleri Energia, +358 44 901 6080,

joao.neto@taaleri.com

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