Foreign investments support a third of Finnish wind capacity

According to the Finnish Wind Power Association (FWPA), foreign investors own 31 % of the Finnish wind capacity. The share of foreign investment in the Finnish wind market is likely to remain high, as the Finnish Government has unveiled a tendering process for two terawatt hours (TWh) of renewables in the near future.

Investments in Finnish wind power reached almost one billion euros in 2016, reports Finnish daily Kaleva. The share of foreign capital in the total investments is counted in hundreds of millions euros.

“Foreign direct investment in wind power accounts for a considerable part of overall FDI flows in Finland. Wind power plays a critical role in Finland’s long-term target to establish a carbon-neutral energy system,” says Jari Tielinen, Senior Advisor at Invest in Finland. “In line with the long-term plans, a total of 2 TWh of electrical energy will be subject to a tendering process in Finland between 2018 and 2020.”

The majority of the foreign ownership belongs to Central European companies and funds specializing in renewable energy investments. According to the statistics of the FWPA, the largest foreign investor in the Finnish wind power is the German financial giant Allianz with a share of 5 % in the overall capacity. Meanwhile, Danish Vestas is the main provider of wind turbines for the Finnish market. As of now, the company has made almost half of the turbines.

In the beginning of 2017, the wind power capacity in Finland stood at 1533 megawatts (MW). During 2016, altogether 182 new wind power plants with a total output of 570 MW were built in Finland.