Taaleri Energia will invest in a 30 MW / 36 MWh battery energy storage system in Lempäälä, some 25 kms south of Tampere. The facility will be one of the largest battery energy storage systems operating in the Finnish frequency reserve market. The capacity of the system has the potential to be dou Contact online >>
Taaleri Energia will invest in a 30 MW / 36 MWh battery energy storage system in Lempäälä, some 25 kms south of Tampere. The facility will be one of the largest battery energy storage systems operating in the Finnish frequency reserve market. The capacity of the system has the potential to be doubled in the future.
As the largest wind power producer in Finland, Taaleri Energia has a comprehensive understanding of renewable energy production and its relationship with the country''s electricity grid. The battery energy storage facility will support the balancing of production and consumption in the main grid by participating in Fingrid''s reserve market and help to balance Taaleri Energia''s own wind portfolio.
Taaleri Energia has partnered with Merus Power, which is the developer of the project and is responsible for the turnkey delivery of the battery energy storage system. It is expected that construction on the project will be completed by April 2024.
The investment represents Taaleri Energia''s first investment into battery energy storage systems and is initially being funded by Taaleri Energia''s EUR 44 million development financing vehicle.
The project will be acquired, as part of a development seed portfolio, by the Taaleri SolarWind III Fund shortly after the first close of the Fund, which is expected to take place in Q2 2023. The SolarWind III Fund will continue to look at battery energy storage investment opportunities across its target markets during its investment period.
Taaleri Energia recently strengthened its investment team expertise in this area with the recruitment of Ville Rimali in January 2023. Ville previously worked in the energy storage business at Wärtsilä.
"Renewable energy is the only sustainable way out from the current energy crisis and to achieve global climate targets. Storage facilities are needed in order to further increase the share of renewable energy in the electricity grid. With this project, we are creating stability and balance in the electricity network and returns for our investors," said Ville Rimali, Investment Director, Energy Storage at Taaleri Energia.
The SolarWind III Fund''s investment strategy will be to acquire, develop, contract, construct, operate and exit a portfolio of utility scale onshore wind farms, photovoltaic solar parks and battery energy storage assets across the Fund''s target markets - the Nordics & Baltics, Poland, Southeast Europe, Iberia, and Texas. The Fund will target a return of 10% net IRR, over its 10-year term, and a first close is expected in Q2 2023.
The Fund will be seeded with a portfolio of 25-35 development projects which are being acquired using the EUR 44 million in development financing that Taaleri Energia secured in 2021.
Taaleri Energia is a renewable energy developer and fund manager. With 45 professionals, it has one of the largest and most capable dedicated renewables investment teams in Europe. The team is currently raising its sixth renewable energy fund, the Taaleri SolarWind III fund, and has 4.9 GW portfolio of development, under construction, and operational wind, solar and battery energy storage assets in Europe, the US, and the Middle East.
Merus Power is a technology company that enables a sustainable and energy-efficient future. It designs and manufactures innovative electrical engineering solutions, such as energy storage, power quality solutions and services for renewable energy and industrial needs. With their scalable technology, they enable the growth of renewable energy in electric grids and improve the energy efficiency of our society. Merus Power is a domestic innovative electrical engineering specialist and operates in global and fast-growing markets.
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