Korkia, Climate ER team up to develop 500 MW of solar in Europe

Finnish renewables investor Korkia and UK-based firm Climate Emergency Renewables (Climate ER) aim to develop 500 MW of ready-to-build solar projects in Europe by 2025.

The companies announced the joint venture today and also revealed details on their first project – the 45-MW Mere Flats Solar Farm in the UK. The scheme will include energy storage capacity and, in due course, green hydrogen generation to fuel haulage transport across South Yorkshire.

Korkia said it will finance the JV and its projects through a recently announced private equity fund. It was set up to invest in renewable project development companies, which bring higher yield as compared to investments in projects in the construction and operation phases.

Helsinki-based Korkia focuses on the European market, and to a smaller extent on Latin America, and has a deal flow of over 4 GW. It and Climate ER see significant appetite for solar in the UK, in line with the country’s net-zero goal for 2050.

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