Korkia-funded partnership to develop over 1GW of renewables in Greece

Facebook
Twitter
LinkedIn
Reddit
Email
Two subsea cables will be laid between the island of Crete and mainland Greece that will reinforce Greece’s transmission network. Image: Tomi Tervo for Korkia.

Finnish investment company Korkia has funded a partnership with Greek developers GH Energy and AA Sunshine to develop solar power parks in mainland Greece and Crete.

The company is targeting a renewable capacity of over 1GW, with the projects including energy storage to help in the balancing of the electrical system.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

With a target to start construction of the solar PV projects in 2024, Korkia has partnered with GH Energy in Thessaly and AA Sunshine in Crete.

Two subsea cables will be laid between the island of Crete and the mainland of Greece, with the first one already operational and the second one expected to be finished by the end of 2023.

What drove the construction of these cables was to integrate the island into the main transmission system and to reinforce the transmission network, according to Korkia.

This will allow the island to become a solar PV hub providing renewable energy to mainland Greece.

PV Tech Premium has previously reported how the Greek solar market is “about to take off” as the country’s PV sector benefits from rising demand for renewable offtake agreements from corporations and clean energy policies from the European Union.

The country is targeting to produce half of its electrical power from renewables sources by 2030 and expects to have 25GW of installed renewables capacity, up from around 10GW it currently has.

Mikko Kantero, executive vice president of renewable energy at Korkia, said: “It is great to be able to be involved in speeding up the green transition in Greece, working together with the best local professionals. This business is all about being local and our role is to back the locals, be an enabler and accelerator of the green transition.”

Earlier this year, Kantero told PV Tech Premium that Greece was a priority on its list of markets to enter and highlighted the importance of choosing local developers to enter new markets.

Read Next

May 9, 2025
Talk of manufacturing consolidation, excitement over energy storage and other key takeaways from Intersolar Europe 2025.
May 8, 2025
The attachment rate of energy storage with a solar array has reached 69% in the first quarter of 2025 for US residential installer Sunrun, while the company expects the tariff outlook to be manageable.
May 7, 2025
Israel-headquartered inverter producer SolarEdge has shipped 1.2GW of PV inverters in the first quarter of 2025.
May 6, 2025
Australia's Labor Party, led by Anthony Albanese, secured a landslide victory and a second consecutive term, in the 2025 federal election.
May 2, 2025
AEMO said that new renewable energy generation and energy storage projects in the final commissioning phase in the NEM have reached 7GW.
April 29, 2025
Developer Nexamp has closed a US$340 million debt refinancing for a portfolio of distributed solar and energy storage projects in the US.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
May 21, 2025
London, UK
Solar Media Events
June 17, 2025
Napa, USA
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 8, 2025
Asia