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Universal Kraft Canada Renewables, a joint venture between Korkia and Universal Kraft Canada, received a $15 million credit facility from Crayhill Capital Management.The facility has an option to expand to $50 million. The funds were designated for Generator Unit Owner Contribution (GUOC) requirements in Alberta’s solar energy projects. Korkia stated that securing third-party financing was a necessary step after the local portfolio reached maturity, allowing it to allocate its own funds elsewhere. Universal Kraft Canada Renewables planned to use the facility to advance its 1.7 GW solar projects. The GUOC, a refundable payment to the Alberta Electric System Operator, was required by power generators to encourage construction near existing transmission capacity, with refunds based on generator size, location, and performance.
Universal Kraft Canada secured $15M credit for Alberta solar expansion
Korkia, Universal Kraft Canada, and Crayhill Capital secured funding for Alberta’s 1.7 GW solar projects, covering Generator Unit Owner Contribution (GUOC) costs.
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