World News: 10:00 GMT Tuesday 3rd December 2019. [Taaleri Oyj via Globe Newswire via SPi World News]
TAALERI PLC PRESS RELEASE 3 DECEMBER 2019 AT 12:00 (EET)
The Taaleri SolarWind I fund has commenced construction work on the 14.4 MW Målajord wind farm. The fund’s final investment is located in the municipality of Växjö in Southern Sweden.
With three Nordex N149 turbines and a total installed capacity of 14.4 MW, the wind farm’s annual production of electricity will be approximately 50 GWh. The wind farm will produce enough electricity to supply around 5,000 households and will offset the equivalent of 6,000 tonnes of carbon dioxide during each year of operation.
The project was developed by and co-optimised with BayWa r.e. who are also providing Engineering, Procurement and Construction Management services as well as Technical and Commercial Management services. The project is a natural continuation of Taaleri Energia’s existing collaboration with BayWa r.e., which started with the SolarWind I fund’s previous Swedish investment, the 23.4 MW Slageryd wind farm located some 40 kilometres from the Målajord site. Taaleri Energia’s technical team will be responsible for data monitoring and analytics of the wind farm’s production and Nordex will be responsible for maintaining the turbines under a 25-year contract. The wind farm is expected to reach full operation in the third quarter of 2021.
“We are very satisfied with the final investment from the Taaleri SolarWind I fund. This relatively small wind farm in Sweden is an ideal fit with the existing portfolio and the fund now has all of its assets either under construction or in operation”, said Taaleri Energia’s Managing Director,
“With experience of bringing more than 1,500 MW of wind power online across the world, this is the third successful wind park realisation and implementation for us in Sweden within a 12-month period, and the second with Taaleri. We are delighted to continue our valuable partnership with a leading renewables player like Taaleri Energia”, adds , CEO of BayWa r.e. Scandinavia AB.
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.
The Taaleri SolarWind II fund’s first close investors include the European Investment Bank, Ilmarinen Mutual Pension Insurance Company, Varma Mutual Pension Insurance Company, Taaleri Plc, the Taaleri Energia team and a wide range of pension funds, foundations, endowments and family offices.
Taaleri Energia is part of the Taaleri Group, which is listed on the Nasdaq Helsinki stock exchange.
Taaleri is a Finnish financial services company, whose parent company, Taaleri Plc, is listed on Nasdaq Helsinki main market. The Taaleri Group comprises three business areas: Wealth Management, Financing, and Energy. In addition, the Group makes investments from its own balance sheet.
At the end of June 2019, Taaleri had assets under management totalling EUR 6.6 billion and 5,300 wealth management customers. Taaleri Plc has some 4,300 shareholders. Taaleri’s operations are supervised by the Finnish Financial Supervisory Authority.
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Globe Newswire: 10:00 GMT Tuesday 3rd December 2019
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