Taaleri Energia has sold 93% of its U.S. wind project, Truscott Gilliland East, to the Taaleri SolarWind II fund, AIP, Mutual Pension Insurance Company Ilmarinen and Akuo Energy. Taaleri Energia will remain as a minority owner with a 7% equity stake in the project. The transaction will not have a result impact on the January-June 2020 result as the profit impacts from the project will be booked later. Taaleri Plc’s guidance, given 17 April 2020, for January-June 2020 is unchanged.

Taaleri Energia acquired its first U.S. wind project in January 2018. The ready to build project has been developed in-house by Taaleri Energia following the acquisition from its development partner NorthRenew Energy.

Financing for the investment, in the form of tax equity, will be provided by BHE Renewables (a subsidiary of Berkshire Hathaway Energy) and construction financing by NORD/LB, Mizuho, Santander and Societe Generale.

The wind farm is located in Knox County, Texas, and represents a 336 MW and USD 450 million plus investment in the North American renewable energy sector. The wind farm will, when constructed, produce enough electricity to supply around 115,000 households and will offset the equivalent of 604,000 tonnes of carbon dioxide during each year of operation.