Finland-based renewable energy investor Korkia has expanded its geographic footprint to yet another solar market, this time Italy to build 1 GW PV capacity, including greenfield ground mounted and agrivoltaic projects.
This capacity will be spread across various locations and technologies, according to Korkia. It will also explore standalone battery projects in congested areas to ensure grid security and to diversify the portfolio.
Initial projects are expected to reach ready-to-build (RTB) stage during H1/2024, contributing to the national goal of over 80 GW renewable energy capacity in production by 2030, it informed.
Korkia is partnering with Chile-headquartered BIWO Renewables for this market. The latter already has 400 MW of solar and storage capacity in advanced development in Italy, according to its website. Apart from Italy, BIWO is also active in Spain, and the UK.
"We are delighted to form this new partnership with Korkia in Italy. It will allow us to keep expanding our operations in Europe, as well as strengthen our role in driving the energy transition for a greener and more sustainable world," said CEO of BIWO Renewables, Juan Bonilla. The company recently bagged investment from SUSI Partners for its utility-scale hybrid solar and storage projects in Chile (see Latin America Solar PV News Snippets).
For Korkia, Italy is the 8th renewable energy market it has entered. In November 2023, it acquired the renewables business of RSF Capital Partners in the UK with its 11 GW project pipeline (see Finnish Investor Expands RE Business In The UK).