The Finnish Government has adopted a resolution on launching auction procedures for five offshore wind projects in Finland's public water areas, with a maximum capacity of 7.5 GW. Consequently, the Finnish state-owned energy company Metsähallitus has launched tenders for two offshore wind projects totalling 3 GW located in public areas governed by the company.
The competitive tendering procedures to be launched this year will concern the offshore wind power projects located off Närpiö (Edith project) and off Pyhäjoki and Raahe (Ebba project) on the west coast of Finland. The two offshore wind projects tendered by Metsähallitus will total approximately 3 GW in capacity and will require an investment estimated at between €6bn and €8bn. Once completed, the projects are estimated to produce up to 14 TWh/year of electricity, corresponding to about 17% of Finland’s current electricity consumption. The implementation of the process for the other three areas will be confirmed in 2024.
At the end of 2021, Finland had only 73 MW of installed offshore wind capacity (and about 3.2 GW of onshore wind). The country currently has over 3 GW of wind projects under construction and over 29 GW under development. Finland has set the goal to reach 50% of renewables in the country’s final energy consumption by 2030 and to reach net zero emissions by 2035.
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