The Promising Future of the Finnish Offshore Wind Market

Finland is continuing its new government-led framework with two tenders totaling 3 GW coming in autumn 2023

• After years as a purely open-door market, Finland launched a tendering framework for territorial waters last year where Vattenfall was selected for the 1.3 GW Korsnäs project by state-owned Metsähallitus.
  
• Finland also took one step closer to coming tenders with the specification of two areas in early June. An area called “Edith” near Närpiö will have a capacity of 1.6 GW and the area “Ebba” near Pyhäjoki and Raahe will have a capacity of 1.4 GW. 
  
• Additionally, June brought an end to open-door permits in territorial waters, as Skyborn used an option to extend an old reservation agreement, the last of such grandfathering agreements.

The government already plans to tender off another 3 GW next year, and has identified additional sites for subsequent auctions. However, the ambitions of the recently elected government don’t end here as they plan to soon set a target for offshore wind power capacity by 2035.

Aegir Insights has recently published new market reports, covering opportunities and potential plays in the Finnish offshore wind market, based on regulations, offtake options and recent policy developments.

Reach out to us to learn more about our offshore wind market intelligence and for more information on the offshore wind market in Finland.

Interested in learning more about current developments in the Finnish offshore wind market?

Aegir Insights recently published an article on how Finland's long-anticipated offshore wind build-out may finally start emerging out of deep freeze. The country’s recently elected government has promised ambitious green targets for 2035 and a first 6GW of auctions is underway. Despite a slow start, Finland has all the ingredients for a thriving international offshore wind play.

Aegir Insights published this Spotlight on the Finnish offshore wind market as part of Beaufort, Aegir's weekly intelligence newsletter. Have a read through the whole article here.