HPP has advised a Korean consortium of investors and fund managers on the acquisition of a part of the Taaleri Group’s Finnish wind farm investment portfolio. Funds managed by Taaleri have agreed to sell their shares in the Nyby and Myllykangas wind farms to a consortium of Korean institutional investors. The Korean investors, led by Hana Financial Investments and Korea Investment & Securities, are providing both the debt and equity for the transaction, investing via funds managed by NH Amundi and IBK Asset Management.
The wind farms, Nyby (8 turbines), Myllykangas I (19 turbines) and Myllykangas II (3 turbines), are co-located some 55 km north of the city of Oulu and have a combined production capacity of 73.2 MW.
The wind farms have been fully operational since 2015/2016 and together produce enough electricity to supply around 28,000 households and offset approximately 70,000 tonnes of CO2 a year.
Taaleri Energia will continue to manage the investments under a managed account agreement and will also continue as the Technical and Commercial Manager of the wind farms under the new owners.
This sale is expected to be completed in January 2020.