Taaleri Energia | November 29, 2021
The Taaleri SolarWind II fund has together with an investment company, Atsinaujinančios Energetikos Investicijos, managed by Lords LB Asset Management, a leading investment management firm in the Baltics, acquired 100 percent ownership of the Anykščiai, Rokiškis, and Jonava wind farms from European Energy, a Danish renewable energy company. Lords LB is Taaleri Energia’s joint venture partner in the Baltics.
The Anykščiai and Rokiškis wind farms are located in the counties of Utena and Panevėžys, around 100 km and 150 km north of the city of Vilnius respectively. The Jonava wind farm is located in the county of Kaunas, approximately 100 km northeast of the city of Vilnius.
With a total of 34 General Electric 5.5 MW turbines, the wind farms will have a combined installed capacity of 186 MW and the combined annual production of electricity will be approximately 560 GWh. The wind farms will together produce enough electricity to supply around 270 000 households and will offset the equivalent of 170 000 tonnes of carbon dioxide during each year of operation.
Construction works on the Anykščiai, Jonava and Rokiškis wind farms commenced in January, March and July 2021 respectively. All three wind farms are expected to be fully operational in 2022 with the Anykščiai wind farm reaching its commercial operations date by the end of the first quarter, the Jonava wind farm by the end of the second quarter and the Rokiškis wind farm by the end of the fourth quarter.
The wind farms were developed by European Energy, who will also provide Construction Management services during the construction phase as well as Technical and Commercial Management services in the operational phase. General Electric will be responsible for maintaining the turbines under a 30-year contract.
The three wind farms have entered into long-term power purchase agreements for a substantial proportion of the electricity generated with Axpo Nordic, which is part of the Axpo Group, the largest energy company in Switzerland. Long-term project financing for these investments has been provided by the Danish investment manager AIP Management on behalf of its investors.
We are delighted with this deal, which brings the number of investments from the Taaleri SolarWind II fund to ten and represents its entry into a new market. Lithuania has excellent wind resources and a clear plan to increase the share of renewable energy in its power generation mix. Our joint venture with Lords LB paves the way for further investments in the Baltics and we look forward to continuing to build on this partnership.”
Kai Rintala, Managing Director, Taaleri Energia
“We are delighted to contribute to the region’s energy transition and security of supply by providing early-stage developers with the access to institutional capital. We believe that our joint venture with Taaleri Energia will be a significant driver for renewable energy capacity development in the region. Unlocking the renewable energy potential in the Baltics will lead to tremendous value creation for both the region and for our investors”, said Atsinaujinančios Energetikos investicijos’ Manager, Tomas Milašauskas.
“We are excited to complete this investment in three onshore wind projects in Lithuania, which is an interesting new market for us with significant demand for renewable energy sources and also well-connected to the NordPool Nordic power market. We are delighted to partner with Lords LB and extend our partnership with Taaleri Energia. We are pleased to see Danish developer European Energy continuing to be play an important role in the projects”, said Kasper Hansen, Managing Partner of AIP.
About the Taaleri SolarWind II fund
The Taaleri SolarWind II fund invests in utility-scale wind and solar assets. The fund is investing in a diversified portfolio of ready-to-build assets in five key markets; the Nordics & Baltics, Poland, South East 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 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, the 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 renewable energy developer and fund manager. With 40 professionals, Taaleri Energia has one of the largest dedicated wind and solar investment teams in Europe. The team is currently investing its fifth renewable energy fund, the Taaleri SolarWind II fund, and has a 2.8 GW wind and solar portfolio in Europe, the US, and the Middle East.
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.
Duke Energy | April 12, 2021
TERRE HAUTE, A renewable energy project of Duke Energy expects to build a $180 million solar farm in western Indiana that will generate enough electricity to power 35,000 households.
The Hoosier Jack Solar farm, proposed by Duke Energy Renewables Solar LLC, a Duke Energy division that is not regulated by the state, will be based in southern Vigo and northern Sullivan counties.
According to Tyler Coon, business development manager for Duke Energy Renewables Solar, the proposed 175-megawatt solar farm will generate enough electricity to power 35,000 households.
The project would span 1,500 acres on leased land, with 896 acres in Vigo County and 604 acres in Sullivan County, and would be built on a former coal strip mine that is currently being used for crops.
According to the Tribune-Star, the site is connected to a 138-kilovolt Duke Energy Indiana transmission line via a utility-owned interconnection switching station near Farmersburg.
Construction is expected to begin in 2023, with a total of 200 construction jobs created over a 12- to 18-month period. By the middle of 2024, the power supply will be up and running.
On Tuesday, representatives of Duke Energy Renewables Solar appeared before the Vigo County Council to seek a $100 million tax abatement on land and personal property for the part of the farm that will be in Vigo County.
Greenbacker | December 22, 2020
Greenbacker Renewable Energy Company LLC ("GREC") declared today that, through an entirely claimed auxiliary, it bought a 80 MWac/104 MWdc pre-operational sun based venture from rPlus Energies LLC ("rPlus").
The venture, Graphite Solar I LLC, is situated in Carbon County, Utah and has a drawn out Power Purchase Agreement ("PPA") set up with the utility PacifiCorp for Facebook. The agreement was created under Rocky Mountain Power's Schedule 34 environmentally friendly power energy tax, which permits huge clients to buy sustainable power produced for their sake. The venture underpins Facebook's objective of 100% environmentally friendly power for its activities and is relied upon to arrive at business tasks ("COD") in Q4 2021.
"Graphite Solar, presently our biggest sun powered obtaining to date, is characteristic of developing scale inside our portfolio." said Charles Wheeler, CEO of Greenbacker. "Enormous undertakings like Graphite will progressively be important to meet the power needs of the innovation economy and give carbon nonpartisan options in contrast to conventional force sources. We were satisfied to work with rPlus Energies, who end up being an important accomplice during this exchange and will keep supporting the undertaking through development."
"We anticipate working with Greenbacker to help PacifiCorp and Facebook tap the astounding sun oriented limit accessible in Utah," said Luigi Resta, CEO, rPlus Energies. "Furthermore, we anticipate proceeding to work with the Carbon County people group through task development, with an attention on invigorating the economy and nearby employing. With the drawn out objective to help modify America's maturing energy foundation, the offer of this task will permit rPlus to keep on progressing sustainable power ventures in networks across the United States."
With the procurement of Graphite Solar I, Greenbacker will possess around 915.4 MW of creating limit (counting resources that are to be built), including 641.7 MW of utility-scale and disseminated sun based offices, 242.6 MW of wind offices, 19.1 MW of battery stockpiling, and 12.0MW of biomass offices.