Booming market for wind power construction
In 2015, a new record volume was reached in wind power construction in Finland. The total installed capacity exceeded 1000 MVA, while almost 400 MVA of new capacity was built. The new record shall be broken in 2016 as well – currently 22 projects totaling 700 MVA are under construction. The same volume of projects is under preparation for construction.
The Finnish business environment nurtures the wind power boom. Finland has one of the most stable grids in the world with continuous investments to strengthen the grid capacity. There’s no currency risk for Euro-investors as Finland is the only Nordic country with Euro.
Furthermore, the reliable political and legislative environment guarantees an accountable haven for wind power investments. An attractive feed-in tariff (FIT) of 83,5 €/MWh has been in force in Finland since March 2011. The confirmation of the tariff kicked off the rapid market growth. The targeted 2500 MVA capacity was nearly full in the end of year 2015.
50 % renewables by 2030
Finland's 38 % EU renewables target of final energy consumption by 2020 was reached already in 2015. By 2030, the share of emission-free renewable energy shall be increased to 50 %. Wind power is expected to have a role in meeting this ambitious national target. This opens up new, additional project development and investment opportunities.
The planning for the New National Climate & Energy Strategy is underway and is due to be completed by end of 2016. Wind power will be included in the future renewables portfolio. Potential support models for renewables have been evaluated and the new incentive system is expected to be in force during Q1/2018