Taaleri Energia’s SolarWind III Fund has invested in Smiltene, a wind farm located in Latvia, approximately 120 km northeast of Riga. The Fund and AEI, a fund managed by Lords LB Asset Management, are joint owners of the project.
Construction work started in Q4 2024, and the wind farm is expected to reach full operational status in Q1 2027. The Smiltene wind farm will consist of 16 Nordex 7.0 MW turbines. The wind farm is expected to generate approximately 330 GWh of green electricity and contribute to avoiding an estimated 64,000 tonnes of CO2 emissions each year of operation.
The wind farm was initiated by a local Latvian developer in collaboration with Taaleri Energia’s development management team. Nordex will be responsible for the project’s operations and maintenance under a 35-year service agreement that includes availability guarantees. The project’s senior debt financing will be supplied by the European Bank for Reconstruction and Development (EBRD), Luminor Bank, and the Nordic Investment Bank (NIB).
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