Korkia Semecon Finland Renewables has divested the ready-to-build 125MW Kukonkylä battery energy storage project in Sievi, Northern Ostrobothnia, Finland, to Enlight Renewable Energy.
Financial details of the transaction were not disclosed.
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The deal involves one of Finland’s largest publicly announced stand-alone battery energy storage system projects to date.
Korkia Semecon Finland Renewables is a joint venture between global renewable investor Korkia and Finnish renewable energy developer Semecon.
The Kukonkylä project will join Enlight’s existing energy storage portfolio in Finland, contributing to the company’s expansion in the European market.
Korkia decided to invest in Kukonkylä in November 2024 and advanced the project to ready-to-build status by May 2025.
Korkia group CEO Pauli Mäenpää said: “The battery storage market is growing globally, and utility-scale storage is becoming a critical part of supporting renewable energy growth.
“With forecasts pointing to a five to 15-fold increase in global capacity by 2030, Korkia saw this development early and has built an impressive portfolio of over 9GW of battery storage projects in just over three years.
“Kukonkylä is a prime example of what that positioning and our operating model delivers. We can allocate capital fast and seize opportunities when they arise.”
Enlight currently plans to connect the facility to Finland’s transmission grid in the first half of 2028 (H1 2028).
The project is expected to support the country’s grid as wind and solar energy generation increases.
Enlight CEO Adi Leviatan said: “Kukonkylä represents an important addition to Enlight’s energy storage portfolio in Finland and strengthens our broader European platform.
“Europe’s transition to a power system with a greater share of renewable generation requires storage assets that can provide flexibility at scale, and Kukonkylä is well positioned to contribute to that need.”
Korkia is engaged in the development of large-scale solar photovoltaic, battery storage and onshore wind projects.
The company’s pipeline includes more than 160 projects across eight countries, totalling 15GW of renewable energy and storage capacity in mid-to-late-stage development.
EY-Parthenon Corporate Finance and HPP Attorneys acted as advisers to Korkia and Semecon on the sale.
