Taaleri SolarWind II fund invests in two ready-to-build wind farms in Finland with a combined capacity of 252 MW

Taaleri SolarWind II fund invests in two ready-to-build wind farms in Finland with a combined capacity of 252 MW

Image: PixabayImage: Pixabay

The Taaleri SolarWind II fund and co-investors have acquired 100% ownership of the Isoneva and Murtotuuli wind farms. The Isoneva wind farm is located in the municipality of Siikajoki in north-western Finland, around 70km southwest of the city of Oulu. The Murtotuuli wind farm is located in the municipality of Posio in northern Finland, approximately 200km northeast of the city of Oulu.

The construction works on both wind farms started in April 2021. With a total of 42 Vestas V162-6.0 MW turbines, the wind farms will have a combined installed capacity of 252 MW and the combined annual production of electricity will be approximately 675 GWh. The wind farms will together produce enough electricity to supply around 74,500 households and will offset the equivalent of 205,000 tonnes of carbon dioxide during each year of operation. The wind farms are expected to be fully operational in the fourth quarter of 2022.

The Isoneva wind farm was developed by Taaleri Energia and Intercon Energy whilst the Murtotuuli wind farm was developed in-house by the Taaleri Group. Taaleri Energia Operations will provide Engineering, Procurement and Construction Management services during the construction phase and Technical and Commercial Management services in the operational phase. Taaleri Energia’s technical team will be responsible for data monitoring and analytics of the wind farms’ production and Vestas will be responsible for maintaining the turbines under a 35-year contract.

Both wind farms have entered into 15-year power purchase agreements to sell a substantial portion of the electricity they produce to Suomen Voima, a Finnish energy company that provides low-emissions, renewable electricity to its customers. The balance of plant contractor for both wind farms is Infra Builders. ING and SEB have been mandated to arrange project financing for these investments.

“These two Finnish wind investments are an excellent addition to the Taaleri SolarWind II fund’s Nordic portfolio. They are fully commercial, subsidy free, utilise the very latest wind turbine technology and demonstrate the value of our in-house project development, construction, technical and commercial management capabilities”, said Taaleri Energia’s Managing Director, Kai Rintala.

About the Taaleri SolarWind II fund

The Taaleri SolarWind II fund invests in utility-scale wind and solar assets. The fund is investing in a diversified portfolio of ready-to-build assets in five key markets; the Nordics & Baltics, Poland, South East Europe, Iberia and Texas. It is estimated that the 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 fund’s investors include the European Investment Bank, Ilmarinen Mutual Pension Insurance Company, Varma Mutual Pension Insurance Company, the European Bank for Reconstruction and Development, Obligo Global Infrastuktur II Fund, the Finnish Church Pension Fund, the Nordic Environment Finance Corporation, the Taaleri Group, the Taaleri Energia team and a wide range of pension funds, foundations, endowments, and family offices.

Taaleri Energia
Press Office
Taaleri SolarWind II, investment, ready-to-build, wind farm, Finland, capacity, renewable energy, construction, MW, production

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