SmartCap has committed €25 million from the SmartCap Green Fund* to Taaleri SolarWind III Fund, a large-scale renewable energy infrastructure fund managed by Taaleri Energia. The fund focuses on the development, construction, and operation of onshore wind farms, solar parks, and battery energy storage assets across the Baltics, Nordics, Poland and select markets in broader Europe and the U.S.
Taaleri SolarWind III Fund has reached its final close at €630 million, nearly doubling the size of its predecessor. The fund is backed by a strong group of institutional investors, including the European Investment Fund (EIF), the European Bank for Reconstruction and Development (EBRD), and Aktia, alongside SmartCap.
The investment marks an important step in SmartCap Green Fund’s strategy to complement its earlier-stage venture capital investments with later-stage, technology-enabled green infrastructure, recognising that achieving climate and energy transition goals requires capital across the full lifecycle of innovation.
“While SmartCap Green Fund has historically focused on earlier-stage venture capital investments, the success of the green transition will only come through actual adoption of innovative green technologies and scaling. The energy sector has historically had a significant environmental footprint, which also requires investments in technology-driven, innovative infrastructure to decrease environmental impact – by starting to use and integrate new technologies,” said Sille Pettai, CEO of SmartCap. “We are pleased to partner with Taaleri Energia, a highly experienced and specialised renewable energy investor, and to build a stronger relationship with a fund manager that is active in our region.”
Taaleri SolarWind III Fund follows a value-add investment strategy, covering the full lifecycle from development to exit, and has already committed capital to a diversified portfolio of wind, solar and battery projects across Europe. The fund is expected to complete its infrastructure project portfolio within the next 18–24 months, also covering Estonia.
“We appreciate the trust placed in us by our investors, and we are pleased with our execution of the Fund strategy thus far. Looking forward, the fund has a strong development portfolio that gives us confidence in our ability to continue to invest in attractive construction projects,” noted Kai Rintala, Managing Director of Taaleri Energia.
Taaleri Energia is regarded as one of the most experienced renewable energy fund managers in the Nordic-Baltic region, with a dedicated focus on wind, solar and energy storage solutions and a strong in-house development platform. SmartCap views the investment as an opportunity to support high-quality green infrastructure investments in Estonia and broader region while fostering closer cooperation between international capital providers and regional renewable energy markets.
*financed by the European Union NextGenerationEU Recovery and Resilience Facility funds.
