Macquarie Backs €51M Finnish Wind Farm Refinancing

Macquarie Asset Management has announced a provision of €51 million in second lien financing to help refinance an onshore wind platform in Finland. The funding, arranged through its managed funds, will refinance existing debt tied to a portfolio of eight operational wind farms. These farms have a combined capacity of 218 megawatts and are located across Central and Southern Finland. The portfolio is owned by funds managed by Taaleri Energia, a renewable energy specialist based in Helsinki.

The deal comes with tailored terms that offer more flexibility in navigating the changing Nordic power market. By customizing the financing to the specific operational needs and market conditions, Macquarie aims to help the assets respond better to changes in electricity prices and regulations. This strategy is meant to support the long-term stability and competitiveness of the wind farms as Finland moves rapidly toward a carbon-neutral society.

Chantal Zhu, Senior Vice President at Macquarie Asset Management, highlighted the importance of onshore wind in reaching Finland’s climate goals. "As Finland transitions to a carbon-neutral society, onshore wind will play a big role in supporting this commitment,” Zhu said. “We are pleased to provide tailored financing for this onshore wind platform, which we believe is well-equipped to manage the evolving Nordic power market."

This transaction is part of Macquarie Asset Management’s larger goal of financing renewable energy projects globally. Since 2014, the firm has provided €4.2 billion in debt financing for renewable projects. Investing in Taaleri Energia’s wind farms aligns with Macquarie’s strategy to support high-quality, operational renewable energy assets by offering financing that adjusts to market and policy changes. Earlier this year, the firm also provided €97 million in financing to Greenalia Power Spain, a company focused completely on renewable energy.

Taaleri Energia, the recipient of this financing, is a well-known investor and developer in renewable energy. The company manages five private equity funds with a diverse portfolio of wind, solar, and battery storage assets totaling 9.1 gigawatts across Europe and the United States. Its expertise and geographic reach position it as a leader in the clean energy transition, while focusing on high-quality assets in good markets helps it maintain consistent performance and long-term value.

The Nordic power market presents significant opportunities for renewable energy, but it also has specific challenges. Fluctuating wholesale electricity prices, seasonal changes in production, and evolving policies require asset owners to stay agile and financially resilient. By providing second lien financing with terms crafted for these challenges, Macquarie aims to equip Taaleri Energia to manage market risks effectively while continuing to operate smoothly and competitively.

Finland has set ambitious climate goals, aiming for carbon neutrality by 2035. Onshore wind power is a crucial part of the country’s decarbonization plan due to its cost-effectiveness, scalability, and potential for quick deployment. The country’s wind power capacity has steadily grown, backed by both domestic investment and international funding. Refinancing Taaleri Energia’s 218 MW wind portfolio will help ensure these assets continue to supply reliable, low-carbon electricity to the grid, aiding Finland’s broader environmental objectives.

For Macquarie Asset Management, this transaction also strengthens its position in the European renewable energy financing market. The firm’s Credit & Insurance division, which oversees around €200 billion in assets, has increasingly focused on renewable energy as a main growth area. This focus reflects the rising global demand for sustainable infrastructure and the belief that flexible, well-structured financing solutions are crucial for speeding up the clean energy transition.

The €51 million financing highlights the role of private investment in expanding and optimizing renewable energy infrastructure. By using customized financial structures, investors can assist renewable energy operators in managing market uncertainties while maintaining operational performance and promoting the shift toward cleaner energy systems. As the Nordic energy sector evolves, partnerships between experienced asset managers and specialized renewable energy developers will be key to achieving climate goals and ensuring energy security.

Through this investment, Macquarie and Taaleri Energia not only reinforce their commitment to renewable energy but also show how flexible financing can improve the resilience and success of existing clean energy assets. As Finland continues its journey to carbon neutrality, partnerships like this one will be crucial for ensuring the country's renewable energy infrastructure thrives in both current and future market conditions.