Nefco finances Korkia’s renewable energy and energy storage expansion

News | 16.12.2024

The EUR 5 million loan from Nefco will be used to develop Korkia’s pipeline of renewable energy projects.

Nefco, the Nordic Green Bank, has signed a EUR 5 million loan agreement with Korkia Ltd, a global renewable energy company. This financing will support the development and international scale-up of Korkia’s 20 GW pipeline of solar energy, battery energy storage system (BESS) and onshore wind projects.

“Korkia’s projects will provide significant environmental benefits, and their business is highly scalable. We are delighted to be part of their growth journey and support the much-needed acceleration of renewable energy and energy storage development,” said Helena Lähteenmäki, Investment Director at Nefco.

This loan builds on a previous investment made by Nefco five years ago. That initial funding primarily focused on expanding Korkia’s solar asset management and investments in solar photovoltaic (PV) projects in Chile.

Founded in 2006 and headquartered in Finland, Korkia has evolved from a traditional asset management house and sustainable development expert into a dedicated investor in renewable energy. Today, Korkia operates in nine countries and boasts a robust development pipeline of over 20 GW in renewable energy and energy storage projects.

“Nefco’s initial investment with other early investors was crucial for Korkia to achieve its current status as a renewable energy investor. I want to thank Nefco for its continuous support in accelerating the transition to renewable energy production,” said Pauli Mäenpää, Group CEO at Korkia. “It is our investors and employees who are to thank for our success and growth. With Nefco’s financing, we are boosting both our global reach and local impact. Our focused efforts will drive the delivery of further renewable megawatts through solar energy, battery storage solutions and wind energy.”

Korkia employs a team of circa 50 energy and finance experts in Finland, the UK and Chile. A further 75 renewable energy professionals work locally and exclusively for Korkia’s development companies in the UK, Canada, Sweden, Finland, Greece, Italy, Chile and Romania.

For more information, please contact:

Helena Lähteenmäki, Investment Director, Nefco
+358 10 6180 633, helena.lahteenmaki@nefco.int

Pauli Mäenpää, Group CEO, Korkia
+358 50 5507 121, pauli.maenpaa@korkia.fi