EBRD champions Renewable Energy with €100m for the Taaleri SolarWind III Fund
In a remarkable double endeavour to accelerate Europe’s transition to renewable energy, the European Bank for Reconstruction and Development (EBRD) has made two significant investments: financing wind energy development in Poland, and committing up to €100 million to the Taaleri SolarWind III fund.
These initiatives represent a concerted effort by the EBRD to diversify Europe’s energy portfolio and bolster sustainable power generation across the region.
EBRD’s Wind Energy Support in Poland
In Poland, the EBRD’s financial package of up to PLN 126.1 million (€29 million equivalent) to Baltic Sea Polska II sp. z o.o. and C&C Wind sp. z o.o., both subsidiaries of Eurowatt Green Energy Group, underscores its commitment to expanding renewable energy capacity. This investment will finance the construction of the 31.5 MW Grabkowo wind farm and support the operational needs of the existing 37.5 MW Orla wind farm.
This investment not only supports Poland’s shift away from coal but also highlights the viability of private renewable energy projects without substantial subsidies. The Grabkowo wind farm is expected to generate over 83 GWh of renewable energy annually, reducing CO2 emissions by more than 59,000 tonnes per year.
Taaleri SolarWind III: A Pan-European Initiative
Parallel to its efforts in Poland, the EBRD is investing up to €100 million in Taaleri SolarWind III, a new fund raised by Finland-based Taaleri Energia. This fund will make equity investments in utility-scale renewable energy generation and storage projects across Europe and the USA, with a focus on greenfield projects in the EBRD’s investee economies, including central Europe, the Baltic states, south-eastern Europe, and the Western Balkans.
Anne Fossemalle, EBRD Director of Equity Funds, emphasized the significance of this partnership, stating: “It is our pleasure to continue to partner with Taaleri Energia to scale up renewables and accelerate the energy transition in the EBRD’s economies.”
Impact of EBRD’s Investments
The EBRD’s investment in Poland and Taaleri SolarWind III will significantly contribute to renewable energy generation in regions where it remains below the European average. By increasing investment in local, clean, and affordable energy, the EBRD aims to secure power supply and reduce dependency on fossil fuels.
Kai Rintala, Managing Director of Taaleri Energia, highlighted the EBRD’s role: “The EBRD is an anchor investor in both the Taaleri SolarWind II and Taaleri SolarWind III funds… as one of the most experienced renewable energy debt and equity investors in the region, is a valued partner.”
EBRD’s Pioneering Role in Green Energy
These investments are not just financial commitments; they represent a strategic approach to fostering sustainable energy sources, mitigating climate change, and enhancing energy security across the region.
In Poland, the EBRD’s support for the Grabkowo and Orla wind farms is a testament to its dedication to reducing greenhouse gas emissions and advancing renewable energy projects that are economically viable without heavy subsidies. This approach reflects a new era in renewable energy, where sustainability and economic viability coexist.
On the broader European front, the EBRD’s commitment to Taaleri SolarWind III amplifies its influence in advancing renewable energy projects across diverse geographies, from the Baltic states to south-eastern Europe. This fund is set to construct 800 MW of new renewable energy capacity, marking a significant stride towards a more sustainable and resilient energy landscape.
These initiatives by the EBRD not only support the immediate goal of increasing renewable energy capacity but also contribute to the broader agenda of transitioning to a low-carbon economy. By fostering renewable energy projects and financing innovative green funds, the EBRD is paving the way for a cleaner, more sustainable future.
Through its targeted investments in Poland’s wind energy sector and the Taaleri SolarWind III fund, the EBRD is significantly impacting the renewable energy landscape in Europe. These initiatives are key drivers in the region’s shift towards sustainable energy, showcasing the EBRD’s commitment to a greener, more resilient future. As Europe continues to navigate its energy transition, the EBRD’s role as a catalyst and supporter of sustainable development remains more crucial than ever.
