Taaleri Exits 3 Wind Farms Worth 73.2 MW in Finland

Taaleri will divest part of wind investment portfolio by selling shares in 3 wind farms in Finland to a consortium of Korean institutional investors

Finnish wealth management group headquartered in Helsinki, Taaleri has announced that funds managed by it have agreed to divest part of their wind farm investment portfolio by selling their shares in the 3 wind farms of Nyby and Myllykangas I and II in Finland to a consortium of Korean institutional investors.

The wind farms, Nyby (8 turbines), Myllykangas I (19 turbines) and Myllykangas II (3 turbines), are co-located some 55 km north of the city of Oulu and have a combined production capacity of 73.2 MW. The wind farms have been fully operational since 2015/2016 and together produce enough electricity to supply around 28,000 households and offset approximately 70,000 tonnes of CO2 emissions a year.

Taaleri Energia will continue to manage the investments under a managed account agreement and will also continue as the Technical and Commercial Manager of the wind farms under the new owners.

“These have been very successful investments for Taaleri funds and for their investors. As a group, we will continue to make significant investments in renewable energy in the future, including in Finland, through our Taaleri Energia division and funds. For example, the first investment from the Taaleri SolarWind II fund will finance the construction of the 91 MW Oltava wind farm in north-western Finland”, said Taaleri’s CEO, Robin Lindahl.

The Korean investors, led by Hana Financial Investments and Korea Investment & Securities, are providing both the debt and equity for this transaction, investing via funds managed by NH Amundi and IBK Asset Management.

“We are delighted to partner with Hana Financial Investments, Korea Investment & Securities, NH Amundi and IBK Asset Management and to continue to manage these assets for the new owners”, adds Taaleri Energia’s Managing Director, Kai Rintala.

The sale of the three wind projects is expected to be completed in January 2020. Scala Fund Advisory acted as a placement agent in this transaction.

PC: EDPR