Finland wants to step up offshore wind development, will auction five new parks by the end of next year

Finland plans to hold several auctions this year and next to support the construction of offshore wind farms off its coast. Investors are expected to compete in a total of five auctions for the construction of offshore wind farms with a combined installed capacity of 6 GW. These facilities are expected to start supplying electricity during the next decade. A number of other projects are also in the pipeline.  

The state-owned company Metsähallitus announced plans to launch the first auctions for offshore wind farms in Finnish territorial waters according to Montel at the end of 2021. The first auction took place last December, when Sweden's Vattenfall won the tender to build a farm with an installed capacity of 1.3 GW.

“The outcome of the auction for the first offshore wind farm late last year showed that Finland is seen as an attractive investment environment for both domestic and foreign companies,” said Juha Niemelä, CEO of Metsähallitus.