The total amount of subsidy paid by Finland’s Energy Market Authority for electricity produced by wind power through its feed-in tariff scheme reached a record EUR 6 million during the first quarter of this year. This was the fourth consecutive quarter that the amount paid through the feed-in tariff scheme for wind power had increased.
Finland’s feed-in tariff for wind, biogas and wood fuel power plants comprises the target price less the three-month mean market price of electricity. The target price is EUR 83.50 per MWh but wind power plants will receive an increased target price of EUR 105.30 per MWh until the end of 2015. During the first quarter of this year the average market price for electricity was EUR 42.09, so the wind power plants received a subsidy of EUR 63.21 per MWh.
Opportunity to join feed-in tariff scheme
New wind power plants are welcome to join the feed-in tariff scheme, according to the Energy Market Authority. The authority will accept new wind power plants in the scheme until a target of 2500 megavolt amperes in total production is reached. Current wind power production and ongoing power plant construction projects in Finland amount to less than a fifth of this target. This means that there are excellent opportunities for international wind power companies to benefit from the feed-in tariff.
In total, EUR 15 million was paid in feed-in tariffs for 803 GWh of renewable electricity during the first part of the year in Finland. Wood chip power plants accounted for 88% and wind power plants for 12% of the total production.
Sources: Energy Market Authority, Kauppalehti