Planned wind power projects enable new industrial investments
There are currently a large number of wind power projects planned in Finland, offering a rapid and cost-effective way to increase clean energy production in our country. This generally creates the conditions to attract significant industrial investments to Finland, which require substantial amounts of clean electricity. Although not all planned wind power projects will materialize, the sheer number of projects reveals the enormous potential of renewable energy as a driver of the green transition in Finland.
According to the project list maintained by Renewables Finland, over 140,000 megawatts (MW) of wind power is planned for Finland. Of this, nearly 73,000 MW is planned onshore and 70,000 MW offshore. The number of planned wind power projects has been steadily increasing in recent years, and compared to the previous update of the project list (January 2024), the number continues to grow moderately.
Wind power projects themselves represent significant investments, the investment value of the projects currently in planning amounts to tens of billions of euros. The wind power projects currently under construction alone will bring over three billion euros in investments to Finland by the end of 2025. In addition, wind power, which can be implemented quickly and cost-effectively after the permitting phase, offers Finland the opportunity to compete for top positions in energy-intensive industrial investments.
“Renewable energy sources, particularly wind power in northern conditions, are enablers of new industry. The potential for clean, affordable, and rapidly deployable energy drives the location of investments. It is now crucial to secure the conditions for additional renewable energy construction by maintaining property tax benefits for municipalities and improving the current permitting model by eliminating the so-called double appeal right for projects that undergo a thorough environmental impact assessment. It is also essential to ensure smooth permitting for hydrogen projects and other new industries. Finland does not have the opportunity to attract large hydrogen investments with substantial subsidies like Germany, but we must effectively utilize the energy assets we have at our disposal,” summarizes Heidi Paalatie, Operational Manager of Renewables Finland.
Wind power advances the green transition in a way that creates genuine and long-lasting vitality in municipalities, particularly through jobs and tax revenue. The planning and construction of wind power projects bring significant investments to municipalities and can considerably improve the economic situation of the regions. Currently, most wind power projects are planned in the North Ostrobothnia region.