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

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

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

September 9, 2025
The average price of solar modules sold in Europe fell marginally between July and August, while buyers’ confidence remained steady.
September 9, 2025
The US Solar Energy Industries Association (SEIA) has released a policy blueprint which it claims would “strengthen the reliability of America’s electric grid with solar and storage technologies.”
September 9, 2025
US solar tracker manufacturer Nextracker has acquired Origami Solar, a steel frame technology-focused company, for approximately US$53 million. 
September 9, 2025
Australia's National Electricity Market (NEM) broke records yesterday when renewables supplied 76.4% of total electricity demand, with solar power contributing nearly 60% of the record-breaking clean energy mix.
September 8, 2025
German inverter manufacturer SMA Solar is to restart US manufacturing for the first time in ten years.
September 8, 2025
Euclid Power has raised US$20 million Series A round led by Venrock to develop AI-driven platform and services for renewables. 

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines