Korkia Plans $1.3 Billion Renewable Energy Projects in Chile
Finnish investor Korkia is set to invest $1.3 billion in a renewable energy and storage portfolio in Chile, encompassing approximately 2 GW of projects. This investment highlights Chile's growing importance in renewable energy amidst increasing electricity demand driven by economic growth.
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Korkia, a Finnish firm, is advancing a portfolio of around 2 GW in renewable energy and storage projects in Chile, requiring an investment of $1.3 billion. Within this portfolio, there are eight initiatives, where 700 MW is for generation and 1.3 GW for storage solutions.
The company has been active in Chile since 2017 and has 14 GW of worldwide projects slated for construction over the next 12 to 18 months, with Chile accounting for about 15% of its global portfolio. Korkia's executive vice president noted the critical growth of electricity demand in Chile, particularly from the data center sector.
Concerns were raised regarding the regulatory framework's ability to keep pace with this demand, as slow permitting processes may hinder infrastructure development. Despite international uncertainties, Korkia remains committed to investing in Chile, viewing it as a strategic location for energy solutions.
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