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Finnish fund targets 850MW wind and solar spree

July 10, 2019 / Renews

Taaleri Energia Funds Management has raised €220m so far for an investment vehicle for wind and solar energy assets in Europe and the US totalling 850MW. The first closing of the Taaleri SolarWind II Fund includes commitments from the European Investment Bank, Ilmarinen Mutual Pension Insurance Company, Varma Mutual Pension Insurance Company and Taaleri. The fund has a target size of €300m, with a €400m cap. Individual investors have also supported the fund's first close, investing through a fund managed by Taaleri Private Equity Funds. Taaleri Energia said the fund will mainly target projects in Europe (80%), with the remainder in the US. Taaleri Energia managing director Kai Rintala said: “We have an extensive active deal pipeline in our target markets, with two SolarWind II fund investments that have already been approved by the Investment Committee and that we fully expect to close in the coming months. “Our strategy is to invest approximately €20-50m equity tickets, but we can als...