Universal Kraft Canada Renewables Ltd renames to Northern Renewables Ltd

Universal Kraft Canada Renewables Ltd, a development company jointly owned by Korkia and its local partner, has changed its name to Northern Renewables Ltd. This marks a major milestone in the company’s evolution and reflects its emergence as one of Alberta’s leading late-phase renewable energy developers.  

“As our platform accelerates toward construction, it is important that our identity reflects the scale of our ambitions, the maturity of our portfolio, and the market credibility we’ve built,” said Kristina Sweet, CEO of Northern Renewables Ltd and Vice President for Canada at Korkia. “Northern Renewables captures who we are today and the role we play in Alberta’s energy future.”  

Northern Renewables recently received Alberta Utilities Commission’s (AUC) approval for two flagship solar projects in Oyen, totaling 430 MWAC. With these approvals secured and nearly 600 MW of additional projects currently under AUC review, Northern Renewables is positioned to hold one of the largest late-phase renewable development portfolios in Alberta, with a clear line of sight toward multiple utility-scale construction opportunities.  

 To support its commercial strategy, Northern Renewables has engaged Marathon Capital, a leading global M&A and energy transition advisory firm, to assist with offtake structuring and to explore strategic partnership and exit opportunities.  

 The name change applies to the corporate parent company only. All project level entities, SPV names, and existing project structures remain unchanged. All operations, contracts, and ongoing project development activities will continue without interruption.   

Further information

Kristina Sweet
Vice President, Canada
+358 44 303 4203
kristina.sweet@korkia.fi

Korkia in brief

Korkia is a global investor and developer 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 Finland and offices in Chile, Italy and the United Kingdom.​

Korkia is one of Europe’s fastest-growing companies in the field of renewable energy.