Taaleri SolarWind II fund invests in two ready-to-build wind farms in Poland with a combined capacity of 51.4 MW

TAALERI PLC PRESS RELEASE 18 JANUARY 2021 AT 15.30 (EET)

Taaleri SolarWind II fund invests in two ready-to-build wind farms in Poland with a combined capacity of 51.4 MW

The Taaleri SolarWind II fund has, together with Masdar, one of the world’s leading renewable energy companies, acquired 100% ownership of the Mlawa and Grajewo wind farms. The wind farms are located in Northern Poland in the counties of Mazowieckie and Podlaskie.

Masdar is Taaleri Energia’s joint venture partner in the CEE region.

Construction works on both wind farms started in June 2020. With 24 Vestas V110 turbines, the wind farms will have a combined installed capacity of 51.4 MW and the combined annual production of electricity will be approximately 192 GWh. The wind farms will produce enough electricity to supply around 90000 households and will offset the equivalent of 146,000 tonnes of carbon dioxide during each year of operation.

The projects were developed by Vestas together with V-Ridium Power Services. V-Ridium will provide Engineering, Procurement and Construction Management services during the construction phase and Technical and Commercial Management services in the operational phase. Taaleri Energia’s technical team will, together with V-Ridium, be responsible for data monitoring and analytics of the wind farms’ production and Vestas will be responsible for maintaining the turbines under a 30-year contract. The wind farms are expected to reach full operations in the fourth quarter of 2021.

Project financing for this investment is provided by DNB Bank Polska and the European Bank for Reconstruction and Development.

“We are very satisfied with the fourth investment from the Taaleri SolarWind II fund. This investment in Polish wind is underpinned by the increasing demand for clean energy and by a combination of the Contracts for Difference scheme and the availability of commercial offtake contracts in the Polish market. It also further demonstrates the value of our developer network, in-house technical expertise and our joint venture with Masdar”, said Taaleri Energia’s Managing Director, Kai Rintala.

“As a global leader in utility-scale wind power, Masdar is proud to be extending our reach into Poland with the acquisition of the Mlawa and Grajewo wind farms, which is a further step forward in our efforts to expand our company’s renewable energy portfolio,” said Ahmed Al Awadi, Director, Business Development & Investment, Clean Energy at Masdar.

 “We are pleased to strengthen our relationship with Taaleri Energia and to bolster Poland’s clean energy transition efforts with investment in these two important infrastructure projects,” he added.

About the Taaleri SolarWind II fund

The SolarWind II fund invests in utility-scale wind and solar assets. 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 Finnish Church Pension Fund, the Nordic Environment Finance Corporation, Taaleri Group, the Taaleri Energia team and a wide range of pension funds, foundations, endowments and family offices.

About Taaleri Energia

Taaleri Energia is a Helsinki based renewable fund manager and developer. With 33 professionals, Taaleri Energia has one of the largest dedicated wind and solar investment teams in Europe and manages a 1.6 GW portfolio of wind and solar assets.

Taaleri Energia is ranked by Preqin as one of the most consistent top performing infrastructure fund managers.

Taaleri Energia is part of the Taaleri Group, which is listed on the Nasdaq Helsinki stock exchange.

www.taalerienergia.com

About Masdar
Abu Dhabi’s renewable energy company Masdar is advancing the commercialization and deployment of renewable energy, sustainable urban development and clean technologies to address global sustainability challenges. Wholly owned by Mubadala Investment Company, the strategic investment company of the Government of Abu Dhabi, our mandate is to help maintain the UAE’s leadership in the global energy sector, while supporting the diversification of both its economy and energy sources for the benefit of future generations. Today, Masdar is active in more than 30 countries, including the UAE, Jordan, Saudi Arabia, Mauritania, Egypt, Morocco, the UK, the US, Australia, Spain, Serbia, India, Indonesia, Uzbekistan, and many more.

For more information please visit: http://www.masdar.ae and connect: facebook.com/masdar.ae and twitter.com/masdar

For more information, please contact:

Kai Rintala, Managing Director, Taaleri Energia, +358 40 162 5711, kai.rintala@taaleri.com
Stephen Ross, Head of Investor Relations, Taaleri Energia, +358 40 733 7789, stephen.ross@taaleri.com

Not for release, publication or distribution in or into the United States or any other jurisdiction in which the release, publication or distribution would be prohibited by applicable law or would require registration or other measures to be taken.

Taaleri in brief

Taaleri is a Finnish financial services company, whose parent company, Taaleri Plc, is listed on Nasdaq Helsinki main market. The Taaleri Group comprises three business areas: Wealth Management, Insurance, and Energy. In addition, the Group makes investments from its own balance sheet. At the end of June 2020, Taaleri had assets under management totalling EUR 7.1 billion and 5,700 wealth management customers. Taaleri Plc has some 5,200 shareholders. Taaleri’s operations are supervised by the Finnish Financial Supervisory Authority.

More information about our company and services: 
www.taaleri.com/en
www.taalerivarainhoito.com/en
www.taalerienergia.com
www.taalerikapitaali.com/en
www.garantia.fi/en

www.fellowfinance.fi/en

Minna Smedsten, Chief Financial Officer, tel. +358 40 700 1738, minna.smedsten@taaleri.com