Finnish energy company Taaleri Energia’s SolarWind 2 fund has raised €320m at its third close.
Third-close investors include Obligo Global Infrastuktur 2 Fund, YLE Pension Fund, the Nordic Environment Finance Corporation (Nefco), institutional and high net worth investors and the Taaleri Group.
Additionally, the Finnish Church Pension Fund joined the fund in June, the company said.
Nefco will join EBRD in the Taaleri SolarWind 2 CEE fund. This is a parallel fund that invests alongside the main fund in investments in the Baltics, Poland and south-east Europe.
Taaleri SolarWind 2 fund will remain open to new investors until June 2021 and has a hard cap of €400m.
It invests in utility-scale wind and solar assets, with approximately 80% focussed on Europe and 20$ on the US.
The fund has already secured its first seven investments, in ready to build wind farms in Finland, Norway, the US, Poland and a solar farm in Spain.
In total, the fund will invest in about 850MW of renewable energy capacity.
Taaleri Energia head of investor relations Stephen Ross said: “We are delighted that the fund has exceeded its target size and would like to thank all of our investors for their support.”
“We have committed to the first seven investments from the fund and with an extensive active deal pipeline across all of our target markets we would expect this investment pace to continue in 2021,” comments Kai Rintala, Managing Director, Taaleri Energia.