The European Bank for Reconstruction and Development (EBRD) is considering making an equity investment of up to 100 million euros in a renewables fund recently established by Finnish Taaleri Energia to acquire and develop large-scale projects in fourteen countries, including seven in southeastern Europe.
The southeastern Europe countries targeted by the Taaleri SolarWind III Fund are Bulgaria, Croatia, Greece, Montenegro, Romania, Serbia and Slovenia. The investment is expected to be approved by the end of June.
The fund is targeting its first close in June at 600 million euros, with the hard cap set at 900 million euros. It plans to invest around 50% of total investment commitments in large-scale wind, solar and battery storage projects in the Nordic and Baltic countries, Poland and southeastern Europe.
The current Taaleri SolarWind II Fund has 1.8 GW under construction and operational wind and solar portfolio in Europe, including an investment in the 111 MW wind farm near Zadar in Croatia. The Finnish company also owns and operates Serbia’s largest wind farm – 158 MW Cibuk.