A year of strategic renewal powers up Korkia’s position as global renewable energy investor

In 2023, Korkia sold its plot fund and consulting business, and acquired the renewable energy business of RSF Capital Partners in order to focus on its growing renewable energy investment business. To continue on the chosen strategic path, Korkia is now letting go of its investment service business.

News | 14.12.2023

In the past year Korkia has been undergoing a strategic renewal. In order to move its business forward, the company will be focusing on increasing its renewable energy investment operations. Earlier this year, the company sold its plot fund and consulting business, and acquired the renewable energy business of RSF Capital Partners. To continue on the chosen strategic path, Korkia is now letting go of its investment service business.

In accordance with its updated strategy, early in 2023, Korkia sold its plot fund and consulting business in order to focus on its growing renewable energy investment business. In October, Korkia acquired the renewable energy business of its long-time cooperating partner, London-based RSF Capital Partners LLP.

With the RSF arrangement, Korkia now has an office in the United Kingdom, in addition to its offices in Chile and Finland, further solidifying Korkia’s role as an international player. The goal is to rapidly advance the company’s future as a significant global investor in renewable energy.

”The world is still in the early stages of energy transition, and we are nowhere near reaching the full potential of renewable energy yet. Significant shifts in energy investments are happening constantly, e.g. in 2023, for the first time ever solar power is expected to attract more capital than global oil production, according to International Energy Agency IEA¹. We feel confident that focusing on renewable energy will continue to provide excellent investment opportunities for our clients globally,” comments Pauli Mäenpää, Korkia’s CEO.

Last year, 1.8 trillion euros were invested in clean energy. This year’s growth in the global renewable energy power capacity is going to be a record of 107 gigawatts, with the total yearly increase reaching 440 gigawatts, which will be the highest absolute increase ever. To put this figure into perspective, it surpasses the total combined installed power capacity of Germany and Spain together, says IEA².

As much as 11 gigawatts of renewable energy under development in Europe, North America and South America

Korkia’s strategy renewal also involves letting go of the asset management business. After the FSA regulated asset management business is terminated at Korkia, the company will focus solely on developing and increasing its renewable energy investment operations and fundraising in its AIF funds. Currently, Korkia has 11 gigawatts of renewable energy in active project development. If all the currently planned projects were to materialize, their total investment value would exceed 9 billion euros*.

”In early October, we launched our new alternative investment fund, Korkia Renewables & Energy Infrastructure LP. The fund invests in solar energy, wind power and energy storage projects, and is intended for institutional investors and experienced high-net-worth investors. This is our sixth investment instrument focused on renewable energy, and there are over 100 experts involved in the renewable investments,” says Jussi Lilja, EVP of Fundraising and Client Relations at Korkia.

Korkia was recently awarded two prizes in a study of institutional asset management. Its special strengths were seen to be particularly in its in-depth understanding of the green transition and in its renewable energy products. According to the study, there is room for growth in the market, because as much as 44 percent of the responding institutions intend to increase the share of infrastructure in their portfolios.

More information is available from:

Pauli Mäenpää
Korkia’s CEO
+358 50 550 7121
pauli.maenpaa@korkia.fi

¹https://www.iea.org/reports/world-energy-outlook-2023/executive-summary

² https://www.iea.org/reports/renewable-energy-market-update-june-2023/executive-summary

*This valuation is based on an estimated total cost of building per megawatt of approximately €800,000–900,000 when projects are finished and built.

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