Similar to neighboring Scandinavian countries, Finland possesses great wind energy potential and the Finnish government has devised strategies to harvest this potential in recent years. Finland aims to achieve 30TWh of annual wind energy production by the end of the year 2030, which will account for 30% of the country’s total electricity consumption which is a 23% increase from 2019. At the end of 2020, Finland’s total installed wind capacity was approximately 2.6GW with a total annual electricity supply of 7.8TWh.
1) Valorem (France)
The independent French renewable energy developer boasts a portfolio of over 5GW worth of renewable energy under development. Valorem have a strong foothold in the Finnish wind market, with a project pipeline of over 500GW. In February 2022, the French renewables group raised €145m to develop the 149MW Matkussari wind farm. The project is located in Ostrobothnia in Finland and consists of 27 wind turbines with a 5.5MW capacity. The project commenced construction in March 2022 and is part of the larger Viiati project which accounts for 1.2% of Finland’s annual electricity consumption.
2) OX2 (Sweden)
The Swedish renewables giant has developed and sold over 3.2GW of wind and solar energy with projects in Sweden, Finland, Poland, and Norway. OX2 have developed several high-profile wind farms across Finland, in 2021 the Swedish renewables group announced plans to develop the largest wind farm in Finland. OX2 will invest €650m in the 455MW Lestijärvi site which is comprised of 69 wind turbines. Once installed, the farm will provide an annual output of 1.3TWh which is 2% of Finland’s total energy production.
3) Enefit Green (Estonia)
The Baltic renewables group boasts a vast array of renewables projects in Estonia, Latvia, Poland, and Finland consisting of wind farms, solar plants, and hydroelectric projects. In December 2021, Enefit Green announced their plans to construct their first Finnish wind farm. The 72MW project located in Tolpanvaara is due to become operational by 2023 and is comprised of 13 wind farms. The Estonian renewables group has invested nearly €83m in the project and 60% of the energy produced will be sold to a previously arranged contract. The project represents a cornerstone in Enefit’s goal to have an installed capacity of 1.1GW by 2025.
Image Source Unsplash 22.06.2022