Taaleri Energia has successfully completed the EUR 287 million refinancing of a 211 MW Finnish onshore wind portfolio with the support of UniCredit.
The portfolio is owned by the Taaleri Wind II and Taaleri Wind III funds and Loiste Energia.
The Taaleri Energia wind funds were established in 2014 and 2016 respectively and together they have invested in eight onshore wind farms.
With this refinancing Taaleri Energia has further enhanced the value of the investments by replacing the existing individual project financing packages and realising the benefits of a portfolio refinancing.
Kai Rintala, Taaleri Energia's Managing Director, said: "We are delighted with the outcome of this refinancing which has significantly enhanced returns for our investors."
Matteo Pietropoli, Global Head of Infrastructure & Power Project Finance at UniCredit, added: "We are proud to be part of this deal, which both evidences UniCredit's capabilities in sustainability-linked lending and our enduring commitment to the financing of renewable investments. I would like to thank Taaleri Energia for its trust and look forward to continue supporting them in the future."
The new loan qualifies as a green loan under the Loan Market Association's Green Loan Principles.
The eight wind farms together produce enough electricity to supply around 75,400 households and offset the equivalent of around 170,000 tonnes of carbon dioxide during each year of operation.