The Taaleri SolarWind II fund and co-investors have acquired full ownership of two ready-to-build wind farms in Finland.
The Isoneva and Murtotuuli wind farms have a combined capacity of 252MW.
The Isoneva wind farm is located in the municipality of Siikajoki, while the Murtotuuli wind farm is in the municipality of Posio.
Both wind farms are expected to come online in the fourth quarter of next year. Construction works at both facilities began in April.
Featuring 42 Vestas turbines, the two wind farms will have the collective capacity to generate 675GWh of clean energy a year, enough to power 74,500 households.
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They are also expected to displace 205,000t of carbon emissions a year.
Taaleri Energia and Intercon Energy developed the Isoneva wind farm, while the Murtotuuli wind farm was developed in-house by the Taaleri Group.
ING and SEB will arrange project financing for these investments, while Infra Builders is the balance of plant contractor for the wind farms
Engineering, procurement and construction management services for both projects will be provided by Taaleri Energia Operations during the construction phase.
Technical and commercial management services will be provided once they enter the operational phase.
Taaleri Energia’s technical team will also offer data monitoring and analytics of the wind farms’ production. Vestas will provide maintenance services to the turbines under a contract for 35 years.
A substantial portion of the clean energy generated by the two wind farms will be supplied to Finnish energy company Suomen Voima under a 15-year power purchase agreement.
Taaleri Energia managing director Kai Rintala said: “These two Finnish wind investments are an excellent addition to the Taaleri SolarWind II fund’s Nordic portfolio.
“They are fully commercial, subsidy-free, utilise the very latest wind turbine technology and demonstrate the value of our in-house project development, construction, technical and commercial management capabilities.”
In January, the Taaleri SolarWind II fund and UAE-based renewable energy developer Masdar jointly acquired 50/50 stakes in two wind farms in Poland.
The two wind facilities, namely the 37.4MW Mlawa Wind Farm in Mazowieckie and the 14MW Grajewo Wind Farm in Podlaskie, are due to come online by the end of this year.