The Taaleri SolarWind III Fund will invest in utility-scale wind, solar and battery storage assets across five target markets; the Nordics & Baltics, Poland, Southeast Europe, Iberia and Texas.
Taaleri SolarWind III Fund will be an SFDR Article 9 fund that is expected to finance the construction of up to 1.9GW of renewable energy, offsetting an estimated 2.3 million tonnes in carbon dioxide per year.
The Fund is targeting a first close in Q1 2023.
This Fund is a financial product, labeled 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.
This fund is a financial product, labelled as an Article 9 product according to EU SFDR regulation (2019/2088). The fund’s investments do not cause any significant harm to any sustainability objectives defined in the EU Taxonomy (2020/852). This is ensured by a comprehensive internal and external due diligence assessment carried out prior to an investment decision. All target companies are committed to complying with the minimum safeguard criteria, and the implementation of these measures is assessed before the investment decision is made.
The fund’s strategy is to make sustainable investments according to EU SFDR (2019/2088) and EU Taxonomy (2020/852) Regulation. All of the capital invested (100%) is allocated to sustainable investments with an environmental objective. All (100%) of the fund investments are EU Taxonomy (EU) 2020/852 aligned. The focus of the investment strategy is to target control investments in utility-scale development and construction projects in onshore wind farms, photovoltaic (PV) solar parks and renewable energy storage facilities. The fund will invest mainly in Europe and the United States. The fund has sustainable investment as an objective by constructing renewable energy facilities and storing energy. The fund contributes to a significant CO2 emission offset or avoidance and, under the EU Taxonomy, a substantial contribution to the environmental objective: climate change mitigation. According to the fund's strategy, the fund invests only in activities that make it possible to reduce or avoid CO2 emissions in accordance with Article 9, paragraph 3 of the SFDR regulation.
The fund’s sustainable investment objective, described in the section “Sustainable investment objective of the financial product”, is monitored by collecting and reporting data on sustainability indicators related to measuring the investment’s contribution to the sustainability target of climate change mitigation. The fund investments’ performance related to these and other sustainability-related indicators (e.g., principle adverse impact indicators) is monitored regularly and throughout the fund’s lifecycle.
The indicators that measure the fund's sustainable investment objectives or characteristics have been determined based on the fund's strategy and goals. These sustainability indicators have been defined by evaluating which quantitative or qualitative quantities best describe the sustainability objectives of the financial product or the impacted sustainability factors, and which indicators best describe the characteristics of the investments in the fund.
To ensure the availability of sustainability-related data, the reporting maturity of target companies is assessed as part of the fund’s due diligence analyses and considered as part of the investment decision. To achieve the sustainable investment objective, used and monitored data are collected quarterly and reported annually.
Investments’ lifecycle emission calculations are often based on partial forecasts and use multipliers and estimates, which is why they always involve a small amount of uncertainty or inaccuracy. However, these estimates describe in enough detail the magnitude and scale of sustainability impacts and thus sufficiently describe the attainment of the investment objective and do not hamper the attainment of these objectives.
To ensure that the target companies fulfil the criteria for sustainable investments, they undergo thorough ESG-, technical-, financial-, tax, and legal -due diligence assessments. In addition, investees are required to commit to reporting financial information and to develop and put in place appropriate processes for managing and documenting good governance practices.
The engagement policies concerning the fund and its investees aim to ensure that the fund's sustainable investment objective is realized and that the fund nor its investments do not cause significant harm to the environment, society or employees, and that the activities do not violate human- or workers’ rights, nor participate in corruption and bribery. We regularly monitor and audit our own operations and those of our investment targets. No reference benchmark is designated for the purpose of attaining the sustainable investment objective of the financial product. Thus, the used sustainability indicators and investment targets fulfil the minimum standards common for EU climate transition benchmarks and EU Paris-aligned benchmarks and minimum standards for EU Paris-aligned benchmarks as defined in the (EU) 2020/1818 regulation. Target companies commit to setting and implementing science-based emission reduction plans to achieve net zero emissions by 2030.