Korkia, Climate ER team up to create 500 MW of solar in Europe
- Finnish renewables capitalist Korkia and UK-based company 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 as well as also disclosed details on their very first project-- the 45-MW Mere Flats Solar Farm in the UK. The scheme will certainly include power storage space capacity as well as, in due course, green hydrogen generation to fuel haulage transportation throughout South Yorkshire.
Korkia stated it will fund the JV and also its projects through a recently revealed personal equity fund. It was set up to invest in eco-friendly project development business, which bring greater yield as compared to financial investments in projects in the building and construction and also operation phases.
Helsinki-based Korkia concentrates on the European market, and to a smaller extent on Latin America, and also has an offer flow of over 4 GW. It as well as Climate ER see significant appetite for solar in the UK, in accordance with the country's net-zero objective for 2050.