Korkia and MoonValley Capital sell two Chilean PMGD ready-to-build solar energy projects to Blue Elephant Energy

News | 25.3.2022

German based Blue Elephant Energy AG has acquired two solar energy projects in Chile from Finnish investment company Korkia and MoonValley Capital. The portfolio consists of two ready-to-build projects with the power output target of 20 MWp when fully operational by end of 2022.

Blue Elephant Energy AG (BEE) develops, acquires, and operates solar parks and wind farms worldwide. Founded in 2016, BEE is currently operating a renewable energy portfolio of 1 266 MW, part of which is under construction. Additionally, the company has secured around 1 500 MW of further solar farm capacity in the context of (co)-development agreements. This acquisition will complement BEEs current and growing portfolio of solar assets in Chile.

Tim Kallas, Chief Investment Officer of Blue Elephant Energy, comments: “We are pleased to be able to further expand and diversify our portfolio with this transaction. In Chile we can see great potential to drive renewable energy projects supporting the continent on its path to carbon neutrality. With this project we can further contribute to our overarching commitment towards a greener future.”

The projects have been developed by Chilean oEnergy and funded by Korkia and Moonvalley Capital. Korkia is an experienced renewable energy development investor with an aggregated development portfolio volume of over 4 GWp in Europe and Latin America.  Having recently adopted a global renewables development investment strategy, this deal marks the first completed sale of assets in Korkia’s Chilean development portfolio with MoonValley Capital.

Mikko Kantero, SVP, Sustainable Energy at Korkia comments: “For Korkia and Blue Elephant Energy this is a significant opening to our cooperation. Our role in the green transition is to create substantial impact by enabling the development of large volumes of climate friendly electricity generation capacity. We are excited to co-operate with Blue Elephant Energy who will construct the asset into an operating green electricity power plant together with oEnergy.”

Further information:

Mikko Kantero
SVP Sustainable Energy, Korkia
Tel: +358 50 2247, e-mail: mikko.kantero@korkia.fi

Korkia is an internationally operating investment and advisory company specialized in sustainable development. To our investor, corporate and institutional clients, we offer alternative investment opportunities, asset management and management consulting. Our team consists of 50+ experts and our headquarters are in the heart of Helsinki. Our success is measured in concrete actions towards a more sustainable future. There is no need to choose between sustainability and growth. We combine them.