The Taaleri SolarWind II fund, the fifth renewable energy fund managed by Taaleri Energia Funds Management, held a second closing in February 2020, with approximately EUR 275 million in commitments.

The second-close investors include the European Bank for Reconstruction and Development (EBRD), institutional and high net worth investors, the Taaleri Group and the Taaleri Energia team.

EBRD will commit 10% at each closing, up to a maximum of EUR 40 million, via a newly established parallel fund, the Taaleri SolarWind II CEE fund. This parallel fund will invest alongside the main fund in investments in the Baltics, Poland and South-East Europe.

With a significant number of institutional investors currently in active due diligence, it is expected that there will be continued strong demand in future closings. The Taaleri SolarWind II fund has a target size of EUR 300 million and an agreed hard cap of EUR 400 million.

The Taaleri SolarWind II fund invests in utility-scale wind and solar assets. The fund will invest in a diversified portfolio of predominantly ready-to-build assets in Europe (c.80%) and in the US (c.20%). It is estimated that the Taaleri SolarWind II fund will finance approximately 850 MW of renewable energy capacity, which will offset over 1 million tonnes of CO2 annually throughout the 25+ year lifetime of the assets.1

Taaleri Energia’s dedicated team of 28 people is highly experienced in wind and solar project development, deal sourcing, technical due diligence, transaction execution, construction and operations. Taaleri Energia was recognised as a “Consistent Top Performing Infrastructure Manager” in the 2019 Preqin Global Infrastructure League Tables.

“We are delighted to welcome EBRD to our fund. EBRD have a strong presence with considerable experience in renewable energy financing in their countries of operation. Together with our exclusive joint venture with Masdar, we feel that we have assembled a very strong team for this region. We have an extensive active deal pipeline across all of our target markets and have already completed the first two investments from the fund in ready-to-build onshore wind projects in Finland and Norway. We expect this investment pace to continue in 2020,” comments Kai Rintala, Managing Director, Taaleri Energia.