Taaleri Energia is a renewable energy developer and fund manager. With 48 professionals, it has one of the largest and most capable dedicated renewables investment teams in Europe. The team is currently raising its sixth renewable energy fund, the Taaleri SolarWind III fund, and has 9.6 GW portfolio of development, under construction, and operational wind, solar and battery energy storage assets in Europe, the US, and the Middle East.
Taaleri Energia is ranked by Preqin as one of the most consistent top performing infrastructure fund managers. Taaleri Energia is part of the Taaleri Group, which is listed on the Nasdaq Helsinki stock exchange.
The Article 9 Taaleri SolarWind III Fund held its first close in July 2023. The Fund’s target size is EUR 600 million with a hard cap of EUR 900 million. The Fund will remain open to new investors until December 2024.
The SolarWind III Fund’s investment strategy will be to acquire, develop, contract, construct, operate and exit a portfolio of utility scale onshore wind farms, photovoltaic solar parks and battery energy storage assets across the Fund’s target markets – the Nordics & Baltics, Poland, Southeast Europe, Spain, and Texas. The Fund will target a conservative base case return of 10% net IRR, with an upside case of 14%+ net IRR over its 10-year term. The Fund will offer significant co-investment opportunities to Fund LPs.
The Fund was seeded with a portfolio of 50 development projects, which have been acquired by the Taaleri Energia team during the past 18 months. The Fund acquired this portfolio at first close at a total cost of €55.5m. PwC and Wood Group’s benchmarking valuation for the seed portfolio averages €165m, which represents a significant upside for the Fund’s investors.
The Taaleri SolarWind III Fund will be classified as an Article 9 “Dark Green” Fund, the highest sustainability category under the EU Sustainable Finance Disclosure Regulation. The SolarWind III Fund’s investments will have significant and sustainable positive impacts in the countries and local communities where they are constructed. The renewable energy power and storage plants that the Fund will develop and build will offset millions of tonnes of CO2 emissions, reduce air pollution, improve grid infrastructure, create local employment, generate local and state tax revenues and increase energy security.