CEO insights: Korkia’s journey through 2024

News | Pauli Mäenpää​ | 9.4.2025

Over 130 renewable energy projects in 8 countries

Throughout 2024, we navigated high interest rates, low electricity prices in the Nordic countries, and regulatory changes across several markets. Despite these headwinds, we achieved remarkable growth in our project portfolio, which by year-end encompassed over 130 renewable energy projects across 14 development companies in 8 countries. This portfolio now represents more than 20 gigawatts of solar, wind, and battery energy storage systems (BESS) under development in all development stages. 

Our focus for 2025 is advancing these projects to higher maturity levels. Many are expected to reach ready-to-build status during the year — a critical milestone for value creation. For select projects, we are developing capabilities to extend beyond the permitting and ready-to-build phases, potentially advancing to financial investment decisions or even the beginning of commercial operation. 

This positioning aligns well with broader industry trends. The renewable energy sector continues to gain market share from conventional energy sources, with solar power leading this transformation.

According to the International Energy Agency (IEA), investments in solar energy during 2023 and 2024 exceeded investments in all other energy forms combined. Global solar investments surpassed the USD 500 billion mark for the first time in 2024, while total energy transition investments exceeded USD 2000 billion — creating a promising environment for Korkia’s business model. 

Powering the future with renewable gigawatts

For Korkia, the year 2025 will be a busy one. We are already capitalizing on these opportunities: In March 2025, we announced the sale of the Mere Flats project, a 56 MWp solar power installation with 16 MW battery storage in the UK, to a fund managed by NextEnergy Capital. This transaction represents just one of several exit preparations initiated during 2024. Through these efforts, we are not only advancing the global transition to renewable energy but also delivering value to our investors.

None of this would be possible without the dedication of our team. Throughout 2024, everyone at Korkia worked tirelessly to ensure the success of our company and renewable energy projects worldwide. I am deeply grateful for their efforts and immensely proud of our collective achievements. 

The ongoing electrification and the transition to emissions-free energy sources are generating sustained demand for renewable energy solutions. Regulatory changes are further amplifying the need for specialized project development expertise. Korkia enters 2025 from a strong and promising position, well-prepared to capitalize on these market dynamics. We are well positioned to take on 2025 and power the future with renewable gigawatts. 

WRITER

Pauli Mäenpää​

Group CEO​