Funds managed by Taaleri have agreed to divest part of their wind farm investment portfolio by selling their shares in the Nyby and Myllykangas wind farms to a consortium of Korean institutional investors. This sale is expected to be completed in January 2020.
The wind farms, Nyby (8 turbines), Myllykangas I (19 wind turbines) and Myllykangas II (3 wind 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 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.
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.
“These have been very successful investments for Taaleri funds and for their investors. As a group, Taaleri 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.
“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.
Scala Fund Advisory acted as placement agent in this transaction.
Taaleri Energia is a Helsinki based renewable fund manager and developer. Taaleri Energia has one of the largest dedicated wind and solar investment teams in Europe. Taaleri Energia currently manages a 1.6 GW international portfolio of wind and solar assets and is also the largest private equity owner-operator in the Finnish wind market, with 129 wind turbines producing over 1% of all the country’s electricity.
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, Financing, and Energy. In addition, the Group makes investments from its own balance sheet.
At the end of June 2019, Taaleri had assets under management totalling EUR 6.6 billion and 5,300 wealth management customers. Taaleri Plc has some 4,300 shareholders. Taaleri’s operations are supervised by the Finnish Financial Supervisory Authority.