PowerTree, a UK-based solar energy developer and investor owned by international renewable energy investors, has signed a partnership agreement with Korkia, a Finnish asset management house. PowerTree and Korkia join forces to implement 300 million USD worth of new solar power in Chile, making it the largest distributed solar power portfolio in the country.
The partnership covers the identification, construction and operation of the solar projects where PowerTree acts as the investor and Korkia provides the local presence and long-term asset management service. PowerTree is owned by Evergreen Investment Partners and Advisers AG (EVINPA) and Infrastrutture SpA.
“Solar power is a proven and low risk investment. The fact that solar energy is a fast growing form of renewable energy globally makes it even more attracting. We aim to become one of the leading and most trusted solar asset management partners for international investors globally. The partnership with PowerTree is a very important step for us on this path and further strengthens our market leader position in Chile,” says Mr. Mikko Kantero, Senior Vice President of Korkia.
In April 2019 Korkia acquired a Chilean solar asset management company Asesorías RAM, which currently operates over 80 MW of solar assets in the area. For comparison, the total solar capacity in Finland was approximately 120 MW at the end of 2018. The company became Korkia’s platform for expanding the business in Latin America. In addition, Korkia has recently entered the Spanish solar market.
“Through the cooperation with PowerTree we will become one of the largest solar players in Europe. We are very excited about this partnership and the trust EVINPA and Infrastrutture have shown us,” Kantero adds.
Focusing on energy transition on a global scale, EVINPA has up to date channeled over 4,6 billion USD in renewable energy projects. The investment vehicle for Chilean solar, where EVINPA works with the world’s largest infrastructure financing houses based in the UK, is the first among a series of similar vehicles for other growing solar markets.
“Our target is to invest 2 billion USD in the coming three to four years in solar assets globally. To reach the target we want to partner with trusted and solid partners like Korkia. I am very much looking forward growing together with them,” says Emmanuel Meyer, Managing Director of EVINPA.
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Korkia is an internationally operating company specialized in investing, developing and financing. Our focus is on building sustainable growth, by combining our expertise in financial markets as well as in the fields of renewable energy, circular economy and mobility. This unique combination of asset management, growth company development and financing, and strategic management consulting create synergies and added value for our customers. Our clients are domestic and international investors, companies and institutions. For more information: www.korkia.fi
PowerTree is a UK-based integrated solar developer and independent power producer. The Company is owned by Evergreen Investment Partners and Advisers AG (EVINPA) and Infrastrutture SpA. The investment vehicle for solar power is the first among a series of similar vehicles for other growing solar markets. Other financiers include one of the oldest UK-based investment houses.
Evergreen Investment Partners and Advisers AG (EVINPA) is a Swiss-based global development and investment platform focused on the energy transition, primarily in emerging markets. For more information: www.evinpa.ch
The Infrastrutture Group is an investor and advisor in the development and construction of projects in the energy and environmental sector in Italy and abroad. For more information: www.infrastrutture.eu