Korkia launches new global renewables fund targeting over 150 million

While the Nordics are well along the path to renewable energy deployment, many countries still rely heavily on fossil fuels. The green transition will span decades, and that structural shift is generating highly attractive investment opportunities for Finnish investors.

Korkia has launched a new alternative investment fund, Korkia Global Renewables Ky, directed at institutional and advanced high-net-worth private investors, with a target fund size of approximately EUR 150–200 million. Through this fund, investors gain access to utility-scale solar power and battery energy storage solution (BESS) projects internationally. Korkia Global Renewables marks Korkia’s fifth global renewables fund.

Large gaps remain in the pace of the green transition

In 2024, 95% of Finland’s electricity came from non-fossil sources, whereas in Italy more than half was still fossil-based. In the UK, fossil fuels account for nearly a third of power generation despite major progress.

Both countries aim to accelerate the green transition through solar and battery storage investments, creating attractive opportunities for investors. According to the International Energy Agency, global investment in solar energy in 2024 surpassed that of all other energy sources combined. Two-thirds of Korkia’s portfolio is solar, with rapid expansion underway in battery storage projects.

Solar power overtakes wind

By 2024, solar already accounted for 7% of global electricity generation, and it is expected to surpass wind this year. Battery storage capacity in Europe is forecast to grow more than forty-fold compared with 2019.

“Compared with wind, solar projects progress up to twice as fast. Permitting processes are shorter, and there is broad understanding worldwide, from citizens to market participants, for solar and grid-supporting storage projects. We are very strong in project development where capital turnover is rapid. Our new fund can finance late-phase development, invest in new and interesting parts of the value chain, and build plants in our most attractive markets. We know these projects inside out, as we have already developed them together with our local partners,” says Jussi Lilja, EVP for Fundraising and Client Relations at Korkia.

New fund marks new frontiers for Korkia

Having focused in recent years on renewable energy project development, Korkia will now selectively acquire and build projects from its pipeline of about 150 late-phase developments worldwide.

The local Korkia partner brings strong market knowledge and established connections with permitting authorities to the development company. The development company handles zoning, obtaining required permits, and managing land-lease agreements. Once the project is ready to move into the construction stage, Korkia and its local partner either sell it forward or the new fund completes construction to bring the plant into operation.

The Korkia Global Renewables fund targets an annual return of over 12%. orkia’s first fund achieved a realised annual return of 12.8 percent, and both of its two most recent funds have exceeded their 10 percent return targets*. Across its earlier renewable energy funds, Korkia has raised a total of more than EUR 150 million, and its project portfolio comprises over 150 projects with a combined capacity of 22 gigawatts across eight markets. That volume equals the peak output of more than ten Olkiluoto III nuclear power units.

Previously, Korkia’s investors have come primarily from Finland, but with this new fund, the company is expanding marketing to Central Europe and the Nordics.

“This is a key reason why we are targeting a significantly larger fund size. Foreign investors, as well as larger Finnish institutions, often wish to participate with commitments of several tens of millions of euros. Thanks to our unique investment strategy, investors don’t have to wait decades for returns; they can materialize in as little as five years,” says Lilja.

Korkia currently has renewable energy projects across Europe, North America, and South America.

Contact:

Jussi Lilja
EVP, Fundraising & Client Relations, Korkia 
+358 50 376 0653
jussi.lilja@korkia.fi

Invest in Solar Power and Renewable Gigawatts

Korkia Global Renewables Ky invests primarily in the development and construction of renewable energy plants and battery storage assets in EU and OECD countries. The fund provides investors with access to a carefully selected, internationally diversified project portfolio.

>> Learn more about the Korkia Global Renewables Ky fund

*Past performance is no guarantee of future results.

Investment in financial instruments always involves risks. The value of investments can increase or decrease, and the money invested may be lost partly or totally. There is no guarantee that the actual return on investments or that the return of the selected investments would be in line with the presented return assumptions or always positive. Risks are described more fully in the official fund documentation. Alternative fund manager Korkia Capital Oy.