Investment opportunities in windpower
Wind power

Business opportunities in Finland • The current construction boom and rapidly growing volume of installed capacity are opening business opportunities for qualified wind power service providers in Finland.

 

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

 

O as Opportunity: On-shore and off-shore

 


Wind conditions are the best in Finland in the Sea of Åland and the Gulf of Bothnia and Gulf of Finland. There are also a plenty of good wind conditions in coastal areas and inland, when the hub-height is 100-150 meters or more. In certain areas located 20-40 km from the shore, conditions equal to the coastline. Even during the winter months the wind conditions are strong.


The current project pipeline under various stages of development consists of over 9000 MVA on-shore and over 1500 MVA off-shore projects. The vast majority of the developed projects are in the EIA, planning or permitting phase. There are close to 200 companies and other organizations actively operating in the Finnish wind power market. So far the largest investors have been such domestic companies as Tuuliwatti, Taaleritehdas and EPV Group.


The share of international investors is increasing. Companies such as Allianz, E-group, Impax Asset Mgmt, KGAL, Susi Partners, WPD and Yard Energy have made their first investments in Finland. Also other international developers, turbine suppliers, and service providers have already entered the market including OX2, K2 Management, WSP Neue Energien, CPC Germania, Gamesa, Nordex and Vestas.

 

 

Vesa Koivisto

Head of Industry, Cleantech & Bioeconomy

Expertise:

Cleantech & Bioeconomy

Email:

vesa.koivisto@businessfinland.fi

Phone:

+358 50 453 6322

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