New fund’s first transaction: Taaleri SolarWind II invests in Finnish wind farm

Taaleri's fifth renewable energy fund held a first closing earlier in July with commitments totaling about EUR 220m. Investors include the European Investment Bank, Ilmarinen and Varma.

European Commission Vice President Jyrki Katainen. | Photo: PR / EC

Taaleri Energia's SolarWind II fund has made its first investment acquiring 100 percent of the Oltava wind farm in Pyhäjoki, located in north-western Finland, alongside its co-investors.

Construction of the wind farm has begun, and the farm is expected to be fully operational by early 2021. The wind farm, which is located around 100 kilometers outside the city of Oulu, will produce energy to some 35,000 households and offset the equivalent of 88,000 tons of carbon dioxide each year of operation. With 19 Nordex 4.8 MW turbines and an installed capacity of 91 MW, the wind farm’s annual production of electricity will stand at approximately 290 GWh.

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