Taaleri SolarWind II fund invests in three wind farms in Lithuania with a combined capacity of 186 MW

TAALERI PLC                       PRESS RELEASE         26 NOVEMBER 2021 AT 15:00 (EET)

Taaleri SolarWind II fund invests in three wind farms in Lithuania with a combined capacity of 186 MW

The Taaleri SolarWind II fund has, together with an investment company, Atsinaujinancios Energetikos Investicijos, managed by Lords LB Asset Management, a leading investment management firm in the Baltics, acquired 100 percent ownership of the Anykšciai, Rokiškis, and Jonava wind farms from European Energy, a Danish renewable energy company. Lords LB is Taaleri Energia’s joint venture partner in the Baltics.

The Anykšciai and Rokiškis wind farms are located in the counties of Utena and Panevežys, around 100 km and 150 km north of the city of Vilnius respectively. The Jonava wind farm is located in the county of Kaunas, approximately 100 km northeast of the city of Vilnius.

With a total of 34 General Electric 5.5 MW turbines, the wind farms will have a combined installed capacity of 186 MW and the combined annual production of electricity will be approximately 560 GWh. The wind farms will together produce enough electricity to supply around 270 000 households and will offset the equivalent of 170 000 tonnes of carbon dioxide during each year of operation.

Construction works on the Anykšciai, Jonava and Rokiškis wind farms commenced in January, March and July 2021 respectively. All three wind farms are expected to be fully operational in 2022 with the Anykšciai wind farm reaching its commercial operations date by the end of the first quarter, the Jonava wind farm by the end of the second quarter and the Rokiškis wind farm by the end of the fourth quarter.

The wind farms were developed by European Energy, who will also provide Construction Management services during the construction phase as well as Technical and Commercial Management services in the operational phase. General Electric will be responsible for maintaining the turbines under a 30-year contract.

The three wind farms have entered into long-term power purchase agreements for a substantial proportion of the electricity generated with Axpo Nordic, which is part of the Axpo Group, the largest energy company in Switzerland. Long-term project financing for these investments has been provided by the Danish investment manager AIP Management on behalf of its investors.

"We are delighted with this deal, which brings the number of investments from the Taaleri SolarWind II fund to ten and represents its entry into a new market. Lithuania has excellent wind resources and a clear plan to increase the share of renewable energy in its power generation mix. Our joint venture with Lords LB paves the way for further investments in the Baltics and we look forward to continuing to build on this partnership”, said Taaleri Energia’s Managing Director, Kai Rintala.

"We are delighted to contribute to the region’s energy transition and security of supply by providing early-stage developers with the access to institutional capital. We believe that our joint venture with Taaleri Energia will be a significant driver for renewable energy capacity development in the region. Unlocking the renewable energy potential in the Baltics will lead to tremendous value creation for both the region and for our investors”, said Atsinaujinancios Energetikos investicijos’ Manager, Tomas Milašauskas.

"We are excited to complete this investment in three onshore wind projects in Lithuania, which is an interesting new market for us with significant demand for renewable energy sources and also well-connected to the NordPool Nordic power market. We are delighted to partner with Lords LB and extend our partnership with Taaleri Energia. We are pleased to see Danish developer European Energy continuing to be play an important role in the projects”, said Kasper Hansen, Managing Partner of AIP.

About the Taaleri SolarWind II fund

The Taaleri SolarWind II fund invests in utility-scale wind and solar assets. The fund is investing in a diversified portfolio of ready-to-build assets in five key markets; the Nordics & Baltics, Poland, South East Europe, Iberia and Texas. It is estimated that the fund will finance approximately 850 MW of renewable energy capacity, which will offset over 1 million tonnes of CO2 annually throughout the 25-year lifetime of the assets.

The fund’s investors include the European Investment Bank, Ilmarinen Mutual Pension Insurance Company, Varma Mutual Pension Insurance Company, the European Bank for Reconstruction and Development, Obligo Global Infrastuktur II Fund, the Finnish Church Pension Fund, the Nordic Environment Finance Corporation, the Taaleri Group, the Taaleri Energia team and a wide range of pension funds, foundations, endowments, and family offices.

About Taaleri Energia

Taaleri Energia is a renewable energy developer and fund manager. With 40 professionals, Taaleri Energia has one of the largest dedicated wind and solar investment teams in Europe. The team is currently investing its fifth renewable energy fund, the Taaleri SolarWind II fund, and has a 2.8 GW wind and solar portfolio in Europe, the US, and the Middle East.

Taaleri Energia is ranked by Preqin as one of the most consistent top performing infrastructure fund managers.

Taaleri Energia is part of the Taaleri Group, which is listed on the Nasdaq Helsinki stock exchange.

www.taalerienergia.com/en

For more information, please contact:
Kai Rintala, Managing Director, Taaleri Energia, +358 40 162 5711, kai.rintala@taaleri.com
Stephen Ross, Head of Investor Relations, Taaleri Energia, +358 40 733 7789, stephen.ross@taaleri.com

Taaleri in brief

Taaleri is a Nordic investment and asset manager with an emphasis on renewable energy and other alternative investments. We channel capital towards economically profitable undertakings that have a lasting positive impact on the environment and society. We are a signatory of the UN Principles for Responsible Investment (UNPRI) since 2010. Taaleri’s vision is to be a Nordic forerunner in alternative investments focusing on sustainability.

Taaleri has two business segments: Private Asset Management and Strategic Investments. Private Asset Management consists of renewable energy, real estate, bioindustry and infrastructure businesses. The Strategic Investments segment includes Garantia Insurance Company Ltd.

Taaleri has EUR 2.1 bn of assets under management in its private equity funds and co-investments. The company has approximately 120 employees. Taaleri Plc is listed on Nasdaq Helsinki.

www.taaleri.com