Latest market news

Finland to launch tenders for 6GW of offshore wind

  • : Electricity
  • 23/04/06

Finnish state-owned enterprise Metsahallitus plans to launch tenders for five offshore wind projects with a total capacity of 6GW later this year and in 2024 once Finnish municipalities approve its zoning initiatives.

The company submitted zoning proposals for seven seabed areas — with a combined 1,190km2 — to the coastal cities of Siikajoki, Hailuoto, Pyhajoki, Raahe, Narpes and Kristinestad, all located to the northwest of Helsinki.

Once approved by the municipalities, Metsahallitus will open a tender for two offshore wind projects in September-October 2023, while an additional tender is anticipated in 2024 for the next two offshore wind projects. The final tender, for the fifth project, will be decided later, according to the firm.

Swedish utility Vattenfall recently won the first tender in co-operation with the firm for the development of the 1.3GW Korsnas wind project, which will be the first large offshore wind farm to be built in Finnish waters.

"The tendering of the first offshore wind farm at the end of last year also showed that Finland is of interest to both domestic and international companies as a stable investment environment," Metsahallitus said today.


Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more