We are expanding to Canada – Project in Alberta will generate solar energy for up to 100,000 households

News | 30.9.2022

Korkia and Universal Kraft Canada’s partnership has aims to produce one gigawatt of solar energy per year. The first project in Southeast Alberta will provide energy for 100,000 households. The investment supports Alberta’s ambitious goal to achieve 30 percent of renewable energy produced by 2030.

Alberta is known as an energy province and Canada’s largest producer of crude oil and natural gas, so its energy goals are ambitious. The Renewable Electricity Act, a project of the provincial government of Alberta, has set a goal of increasing renewable energy production by 2 gigawatts between 2017 and 2023. Especially for solar energy, significant growth is expected – up to 1,200 megawatts during the year.

Alberta is a great example of how we can build on the region-specific strengths. More than 10 percent of Alberta’s GDP comes from the energy industry, primarily oil and gas. However, the transition to renewable forms of energy has been taken seriously, both by authorities and companies. The goals set in the province are ambitious and companies have actively seized these opportunities, tells Kristina Sweet, Korkia’s new investment director who is from Alberta.

Since 2017, Korkia has built more than 30 renewable energy power plants in Europe and Latin America. We have a lot of experience operating in different market areas. What makes Alberta particularly attractive is the free and well-functioning market, which offers an exceptionally functional framework for corporate investment and business. We are really interested in expanding our operations in Canada and collaborate with Universal Kraft existing developments in order to be actively involved in the pioneer province’s green transition, says Mikko Kantero, Korkia’s director of renewable energy investments.

Universal Kraft is developing renewable energy projects for over 20 years. From an Iberian/Nordic focus and now also active both in North and South America, the company is active in Canada developing for both renewable power and hydrogen production, with head office in Calgary and developments in Alberta, BC and Quebec. With a base on design and engineering multi-technological sustainable solutions, the development in Alberta is an opportunity to push towards a large-scale energy production: Canada is one of the largest traditional energy markets in the world, and of course it makes a lot of sense to work with the energy transition here, given the natural resources the country is carrying, as shared by Edward Alberts, Universal Kraft’s Manager in Canada.

In January 2022 Alberta’s renewable energy production was 14 percent of all energy production. The Canadian Energy Agency predicts that renewable energy capacity in Alberta will reach 26 percent by 2023. According to forecasts, by 2023 Alberta could even be the province producing the most renewable energy in all of Canada.

Additional information:

Mikko Kantero, Director, Renewable Energy Investments
+358 50 2247, mikko.kantero@korkia.fi

Kristina Sweet, Investment Director
+358 40 303 4203, kristina.sweet@korkia.fi