We are currently investing the Taaleri SolarWind II fund. 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 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 Nordic Environment Finance Corporation, the Finnish Church Pension Fund, Taaleri Group, the Taaleri Energia team and a wide range of pension funds, foundations, endowments and family offices.
The Taaleri SolarWind II fund has made four investments to date;
Oltava Wind Farm, Finland
91 MW, 19 turbine wind farm in Finland (press release)
Haram Wind Farm, Norway
34 MW, 8 turbine wind farm in Norway (press release)
Escalade Wind Farm, USA
336 MW, 65 turbine wind farm in USA, (press release)
Mlawa and Grajewo wind farms, Poland
51.4 MW, 24 turbine wind farm in Poland, (press release)
SolarWind II and SolarWind II CEE funds (together the Fund) have a sustainable investment objective.
The investment strategy of the Fund is to target control investments in utility-scale greenfield (i.e. construction) and brownfield (i.e. operational) renewable energy projects. The focus of the Fund’s investment strategy is onshore wind farms and photovoltaic (PV) solar parks. The planned asset allocation of the Fund is 100% in renewable energy assets. The Fund contributes to a sustainable investment objective by the construction and production of renewable energy; therefore, contributing to a significant CO2 emission offset.
The sustainability indicators that are considered in order to measure the attainment of the sustainable investment objective of the Fund is the amount of renewable energy capacity (MW) in the portfolio, renewable energy produced (MWh) and the estimated emissions offset (CO2e). The Manager calculates the emissions offset (CO2e) of its investments with EIB’s methodology. Gaia Consulting Oy has audited the Manager’s methodology and calculations.
Taaleri Energia considers sustainable impacts and risks in its investment activities throughout the life cycle of the investments. Any materialised sustainability risk can have low to significant impact on an investment and/or the Fund.
Taaleri Energia further considers environmental, social and governance (ESG) impacts, including sustainability risks, in its due diligence prior to an investment decision and findings are included in the summary provided for the investment committee approval. The investment committee considers the significant impacts of the investment when approving a potential investment. After the investment decision the ESG impacts, including sustainability risks, are monitored as deemed necessary as part of the asset and risk management of the investment. Risks, including sustainability risks, are further assessed, mitigated and monitored in accordance with our risk management processes.