Korkia secures EUR 10.7 million in financing, including EUR 5 million loan facility from Nefco

Korkia has secured a total of EUR 10.7 million in new financing, supporting the company’s continued growth and its ability to create value across its international investment portfolio of renewable energy projects. The financing includes a EUR 5 million loan facility from Nefco, The Nordic Green Bank, and a EUR 5.7 million bond issue.

The financing strengthens Korkia’s financial foundation and supports the continued development of its business operations. The Nefco loan agreement is partially guaranteed by the European Investment Fund (EIF) under the InvestEU programme.

“Securing a total of EUR 10.7 million in financing is a significant achievement for Korkia and provides a strong foundation for our next phase of growth. Together, the Nefco loan facility and the successful bond issue reflect the confidence that both long-term financing partners and investors place in our business model, portfolio and growth strategy.” said Pauli Mäenpää, Group CEO of Korkia. “This financing strengthens our ability to manage and create value across our international investment portfolio while continuing to build strong partnerships in the markets where we operate.”

The growing deployment of renewable energy and energy storage plays an important role in strengthening energy security, reducing reliance on fossil fuels and supporting climate objectives. Through its investment activities, Korkia seeks to accelerate the development of utility-scale renewable energy and energy storage projects together with experienced local project developers.

“We are pleased to continue our cooperation with Korkia and support the development of renewable energy projects that help reduce carbon emissions and advance the green transition. At the same time, Korkia’s participation in our ongoing Biodiversity Pilot Programme demonstrates its commitment to integrating biodiversity considerations into its business,” said Vivi Avikainen, Senior Investment Manager at Nefco.

The new financing agreement marks the third financing arrangement between Nefco and Korkia. Previous financing rounds have supported the company’s expansion into solar asset management, investments in solar photovoltaic projects in Chile and the international scale-up of Korkia’s renewable energy and energy storage business.

Korkia’s portfolio currently consists of more than 160 solar, battery energy storage and wind projects across eight countries in Europe, North America and South America. The company has over 15 GW of projects in advanced development stages.

Image courtesy of Nefco. From left: Tobias Sundman, Nefco; Anja Nystén, Nefco; Thor Thorsteinsson, Nefco; Vivi Avikainen, Nefco; Pauli Mäenpää, Korkia; Trond Moe, Nefco; Tiia Ryhänen, Korkia; Akseli Tölö, Korkia; Jussi Lilja, Korkia.

For more information, please contact:
Pauli Mäenpää, Group CEO, Korkia
+358505507121, pauli.maenpaa@korkia.fi

Vivi Avikainen, Senior Investment Manager, Nefco
+358 10 6180 661, vivi.avikainen@nefco.int

Korkia in brief
Korkia is a global investor accelerating the transition to renewable energy. Together with local partners, Korkia develops utility-scale solar, wind, and energy storage projects that drive meaningful financial returns and deliver renewable gigawatts transforming the global energy landscape. The company operates in nine markets across Europe, North and South America, powered by a team of 50 in-house professionals and over 75 local development partners. Established in 2006, Korkia is a privately owned company with headquarters in Helsinki, Finland and offices in London, Milan and Santiago de Chile. 

About the EIF
The European Investment Fund is part of the European Investment Bank Group. Its central mission is to support Europe’s small and medium-sized enterprises (SMEs) by helping them access financing. The EIF guarantees provided by Nefco are part of the InvestEU programme.