The Taaleri SolarWind II Fund is an infrastructure fund investing in ready-to-build, utility-scale wind and solar assets.

The Taaleri SolarWind II Fund has invested in a diversified portfolio of ready-to-build utility scale wind and solar assets in five key markets; the Nordics & Baltics, Poland, Southeast 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 30-year lifetime of the assets. The Fund has completed 11 investments and it is expected that the Fund will be fully invested by the end of 2022. The Fund has been closed and is no longer accepting new investors.

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.

This financial product is labelled as an Article 9 product according to EU SFDR regulation (2019/2088) and has an objective of making sustainable investments. The “do no significant harm” principle applies to all investments underlying the financial product, as they take into account the EU criteria for environmentally sustainable economic activities.

Statement on principal adverse impacts of investment decisions on sustainability factors

Best ESG Fund Energy Transition Clean Energy (1)(1).png

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.

The Taaleri SolarWind II fund has made eleven 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)

Isoneva wind farm, Finland 

126 MW, 21 turbine wind farm in Finland (press release)

Murtotuuli wind farm, Finland

126 MW, 21 turbine wind farm in Finland (press release)

Niebla solar plant, Spain

50 MWp solar PV plant in Spain (press release)

Anykščiai wind farm, Lithuania

49,5 MW, 9 turbine wind farm in Lithuania (press release)

Jonava wind farm, Lithuania

70 MW, 13 turbine wind farm in Lithuania (press release)

Rokiškis wind farm, Lithuania

66 MW, 12 turbine wind farm in Lithuania (press release)

Zadar wind farm, Croatia

111 MW, 25 turbine wind farm in Croatia (press release)