Taaleri SolarWind II Fund Invests in a 111 MW Wind Farm in Croatia

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Together with Encro, the Taaleri SolarWind II Fund has acquired 100% ownership of the Zadar Wind Farm. Encro is the original developer, and the largest wind power producer and developer in Croatia.

The Zadar wind farm can be found in the Zadar county, approximately 300 km southwest from Zagreb.

The wind farm will be equipped with 25 Nordex turbines and have an installed power of 111 MW. Croation will receive approximately 317 GWh of electricity annually. The wind farm will also produce enough electricity for around 85 000 households. It will offset approximately 78000 tonnes of carbon dioxide each year.

Construction on the Zadar windfarm began in Q2 2021. It is expected that the wind farm will be fully operational by Q4 2023. Encro developed the wind farm project. They also provide Construction Management services during construction and Technical and Commercial Management during operation. Nordex will manage the maintenance of the turbines for a period of 30 years.

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For a significant portion of the electricity generated, the wind farm plans to enter into a long term power purchase agreement. A consortium of lenders provided project financing for this investment, including Zagrebacka Banka (owned UniCredit), Croatian Bank for Reconstruction and Development (HBOR) and European Bank for Reconstruction and Development (EBRD).

“We are thrilled to be entering Croatian markets with our Encro partners. Croatia has great renewable energy resources and we are happy to help increase Croatia’s energy independence.” Kai Rintala, Taaleri Energia’s Managing director, stated that the Zadar wind project increases the number of investments made by the Taaleri SolarWind II funds to 11. This demonstrates our commitment to Southeast Europe as a key market for our future and current renewable energy funds.

Iljko Curic (Managing Director of Encro) stated that Encro is happy to have Taaleri Energia join the Zadar wind farm project. This comes after having developed a close working relationship over the past few years with our colleagues from Taaleri.

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