Finland's Korkia launches new fund with renewables development focus

Wind farm in Finland. Image by: Helen Ltd.

February 22 (Renewables Now) - Finnish investment and advisory firm Korkia has launched a new fund to invest in renewable project development companies, mostly across Europe.

The private equity fund targets an annual yield of more than 10%, Korkia said on Monday. It explained that investment in a project development entity with a distributed portfolio brings higher yield as compared to investment in projects in the construction and operation phases.

“The holding period in the project development stage is only 2 to 3 years. This allows the fund faster capital turnover than in the construction and operational stages, and thereby our customers to achieve better returns,” commented Jussi Lilja, Korkia’s executive vice president, asset management.

Helsinki-based Korkia focuses on the Nordic market and wider Europe, and to a smaller extent on Latin America, and has a deal flow of over 4 GW. The company is currently looking at the Finnish solar market and the solar and wind markets in Sweden, where talks for partnerships are ongoing.

According to its website, Korkia has EUR 700 million (USD 791.1m) of assets under management and investment commitments.

(EUR 1.0 = USD 1.130)

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