Renewable Power Capital (RPC) and Aurinkokarhu have entered into an agreement to co-develop up to 1GW of solar projects in Finland.
This marks RPC’s first solar deal in Finland – one of its key markets.
Through this deal, RPC further is diversifying its Nordic portfolio with the addition of development projects.
The first projects are expected to achieve ready-to-build status by 2026, with operations commencing from 2028 onwards.
In Finland RPC already has 170MW of operational wind and 50MW of battery storage under construction.
Aurinkokarhu, which was established by two energy entrepreneurs in Finland, is an “early mover” in the rapidly growing Finnish solar market.
Kevin Devlin, CEO at RPC, said: “We made our first investment in Finland when RPC was set up and it remains a priority market for RPC.
“It’s an exciting time to enter this fast-growing sector with such an established development partner as Aurinkokarhu, there’s huge potential for solar power in this region and we look forward to working with them to support the Nordic energy transition.”
Andreas Renfalt, CEO at Aurinkokarhu, said: “This deal marks a significant milestone for us at Aurinkokarhu, and further strengthens our position as a leading PV developer in the Finnish market, as we have now secured a strong and experienced partner for utility-scale PV projects.
“With our combined expertise and resources, we’re confident that we can make a meaningful impact on the future of PV in Finland.”