Sweden’s Vindin to invest in wind power in Finland

Vindin is planning several wind parks near Vaasa in an investment worth about EUR 250 million.

The Swedish wind energy company Vindin is planning to invest about EUR 250 million in wind parks located near Vaasa in western Finland. According to Vindin’s CEO Anders Lyberg, the investment may consist of more than two or three wind parks because new partners are now interested in the project. Vindin would sell the electricity it produces in Finland first to Nord Pool and then to the company’s owners.


According to Lyberg, there are several reasons why the company is interested in investing in Finland. “The feed-in tariffs provide a guaranteed price for 12 years and confirmed wind measurements also reduce the risks,” he says. “The best wind locations are found in the Pohjanmaa region, which also has land available for rent as well as municipalities with a positive attitude towards wind power.”


Vindin is currently producing 230 GWh of electricity annually and its shareholders include Stora Enso, Billerud-Korsnäs, Boliden, Holmen, LKAB, Preem, Cementa, Akzo Nobel, Linde Gas and Aga.


International interest


Finland is attracting a great deal of interest from international wind power companies because the sector is still in its infancy compared to central and southern Europe. Wind power production in Finland is almost risk-free and very profitable.


“We are receiving partnership inquiries every week from Spain, Portugal and Germany, for example,” says Rami Vuola, CEO of the Finnish company EPV Energia which is based in Vaasa. EPV has about 20 projects underway along Finland’s western coast and is starting construction work on Finland’s largest wind park in Vähänkyrä this year. The plans are ready for more than 100 wind turbines. If everything goes well, EPV Energia will be producing 150 GW of electricity in a few years’ time.


At the end of 2012, Finland had 163 wind turbines producing a total of 288 MW, and ongoing wind power projects totalling 8,900 MW. Only the first 2,500 MW of production will benefit from the guaranteed feed-in tariff of EUR 105.30 per MWh which applies until the end of 2015. After this, the feed-in tariff is EUR 83.50 per MWh. The subsidy is payable for 12 years after production is started.