Taaleri SolarWind II fund invests in a 91 MW wind farm in Finland

Taaleri SolarWind II fund has, together with fund co-investors, acquired 100% of the equity of the Oltava wind farm. The Oltava wind farm is located in the municipality of Pyhäjoki in north-western Finland, around 100kms from the City of Oulu.

Construction work on the wind farm has started, and with 19 Nordex 4.8 MW turbines and an installed capacity of 91 MW, the wind farm’s annual production of electricity will be approximately 290 GWh. The wind farm will produce enough electricity to supply around 35,000 households and will offset the equivalent of 88,000 tonnes of carbon dioxide during each year of operation.

The project was developed in-house, and Taaleri Energia’s engineering team will be responsible for managing the construction of the wind farm and subsequently monitoring its long-term performance. The wind farm is expected to reach full operations in the first quarter of 2021. Nordex will be responsible for maintaining the turbines under a 25-year contract. The Balance of Plant contractor is Eltel Networks and the debt financing for the investment will be provided by Hamburg Commercial Bank.