EU-backed fund to channel millions into Southern European PV

Facebook
Twitter
LinkedIn
Reddit
Email
Taaleri's SolarWind II will focus on solar PV projects in Spain, Portugal, Greece but further Southern European locations may be considered (Credit: ABB)

Southern European PV is to reap a multi-million funding boost via an investment fund backed by strategic EU programmes.

SolarWind II Fund, the fifth of a series by Finland's Taaleri Energia, recently managed to secure €219 million (US$246 million) of its target of €300 million (US$338 million).

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The first close was backed by the European Investment Bank (EIB), who will commit a maximum €60 million (US$67 million) with guarantees from the European Commission’s EFSI strategic fund.

Taaleri’s new fund will invest in utility-scale renewables in Europe (80%) and the US (20%), deploying €20-50 million (US$22.5-56.3 million) of equity per transaction.

A source close to the investment manager told PV Tech 25% of SolarWind II’s pot could end up in solar projects, with the remainder used for wind plays.

The fund, the person added, will typically acquire controlling stakes in ready-to-build solar schemes. Spain, Portugal, Greece and other Southern European states will be the priority markets.

The scheme aims to control 850MW in wind and solar project stakes but the actual pipeline backed by Taaleri will be much bigger, as the fund will invest alongside others.

Fundraising for SolarWind II began last November and is set to end before summer 2020, the source said. The €300 million fund could accept up to €400 million (US$450 million) if there is enough demand.

The EIB aside, sponsors of the fund include pension funds, foundations, endowments, trade unions, family offices and individual investors that committed via Taaleri’s own private equity vehicles.

Taaleri’s fundraising push comes after its move to join Masdar among the backers of a 245MW solar PV project in Jordan, followed by a partnership to deploy in Central and Eastern Europe.

The Finnish group is one of a string recently lining up financing for solar plays, including Glennmont and Aquila. The year is proving solid so far for PV funding across the globe.

2 December 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.
10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

July 1, 2025
French private equity firm Ardian Clean Energy Evergreen Fund (ACEEF) has bought 117 solar PV plants, worth 116MW of total capacity in several locations in Italy.
July 1, 2025
A five-year research initiative is underway in Australia to test the viability of floating solar systems on irrigation dams.
Premium
June 30, 2025
Solargis CEO Marcel Suri explores three areas where new standards could help underpin greater efficiency, accuracy and market resilience.
June 30, 2025
Eni subsidiary Plentiude has started operations at the northern block of its 330MW Renopool solar portfolio in Spain.
June 30, 2025
Australian module manufacturer Tindo Solar has secured a 30MW solar module supply agreement to power Australia's first "net zero pipeline”.
June 27, 2025
Renewables investment platform Nexwell Power has signed a round of power purchase agreements (PPAs) with “one of the largest” US tech companies for solar PV capacity to be built in Spain.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece