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Add to Preferred SourcesThe Nordic Environment Finance Corporation (NEFCO), The Nordic Green Bank, has signed a EUR 5 million loan agreement with global renewable energy investor Korkia Ltd. to further develop the company’s business operations and renewable energy portfolio, according to a press release published on September 8, 2026. The financing is partially guaranteed by the European Investment Fund (EIF) under the InvestEU programme. It will support Korkia’s continued growth as an international investor in renewable energy. The funding will strengthen the company’s ability to manage and create value across its international portfolio. Korkia’s global portfolio consists of more than 160 solar, battery energy storage and wind projects.
The new loan builds on two previous financing agreements between Nefco and Korkia. The first financing in 2019 supported Korkia’s expansion in solar asset management and investments in solar photovoltaic projects in Chile. The second, signed in 2024, helped accelerate the development and international scale-up of the company’s renewable energy and energy storage portfolio. Established in 2006, Korkia is a privately owned company headquartered in Finland, with offices in Chile, Italy and the United Kingdom. The company operates in nine markets across Europe, North and South America.
The financing will enhance Korkia’s ability to manage a growing portfolio of solar, battery energy storage and wind projects in Europe, Canada and Chile and advance them towards the ready-to-build stage. The portfolio includes more than 160 projects, with 15 GW of projects at an advanced stage. In Oyen County, Alberta, Canada, two of Korkia’s projects have received Power Plant Approval, marking an important milestone in their development. Korkia’s team includes 50 in-house professionals and more than 75 local development partners. The company develops utility-scale solar, wind, and energy storage projects with local partners.
The growing deployment of renewable energy and energy storage is essential for reducing reliance on fossil fuels, strengthening energy security and supporting climate goals. Pauli Mäenpää, Group CEO at Korkia, emphasized the importance of shared values in the partnership.
“Korkia’s mission is to accelerate the global energy transition through investing in the development of renewable, affordable and reliable energy. Nefco has become an important financing and investment partner for Korkia, and we greatly value our long-standing cooperation,” he said.
He added that it is particularly important to work with a partner that shares Korkia’s values and vision for a sustainable future.
Vivi Avikainen, Senior Investment Manager at Nefco, highlighted the continued cooperation and Korkia’s engagement in sustainability initiatives.
“We are pleased to continue our cooperation with Korkia and support the development of renewable energy projects that help reduce carbon emissions and advance the green transition,” she said.
Avikainen noted that Korkia’s participation in Nefco’s ongoing Biodiversity Pilot Programme demonstrates its commitment to integrating biodiversity considerations into its business. The EIF guarantees provided by Nefco are part of the InvestEU programme, which supports access to financing for small and medium-sized enterprises across Europe. Nefco’s continued backing reinforces Korkia’s ability to bring renewable energy projects to market.