Finnish investment firm Korkia today announced a cooperation with compatriot solar developer Solmar Consulting to develop 1 GW of solar energy in southern, western and south-western Finland.
More than 20 projects, ranging between 40 MW and 100 MW in size, are already under development and are expected to become operational in the 2025-2027 period.
When completed, the 1 GWp of solar capacity will be able to generate 1 TWh of power a year, corresponding to the annual demand of some 52,600 electrically heated single-family homes, the companies estimate.
“Finland is in sore need of more renewable energy, and solar power offers a quick way to the production of it. These projects will help increase the amount of renewable energy in the summer season, in particular, as the production of wind energy is less at that time,” said Petri Haataja, Korkia’s vice president, Joint Venture Management.
The announcement marks Korkia’s first major investment in domestic solar energy. The firm recently unveiled partnerships to develop a number of solar projects in Greece.
“Despite the changing seasons, it pays to produce solar power in Finland as well, because the annual solar irradiance in Southern Finland, for example, is at the same level as in Central Europe,” according to Solmar’s executive director Jari Marttinen.