Renewables Finland has unveiled ambitious targets to expand offshore wind capacity, setting milestones of 1 gigawatt (GW) by 2030, 7 GW by 2035, 16 GW by 2040, and 24 GW by 2045. Currently, Finland has only 44 megawatts of installed offshore wind capacity. These targets, proposed by Renewables Finland’s offshore wind committee, reflect industry forecasts and the progress of ongoing projects in Finland’s maritime zones.
Expanding Offshore Wind in Finland
Several offshore wind projects are advancing across Finland, highlighting the nation’s untapped potential for renewable energy generation. Projections from the offshore wind committee detail the anticipated growth in capacity and investment requirements:
2030: 1 GW, with €2.5 billion in investments
2035: 7 GW, requiring €17.5 billion
2040: 16 GW, demanding €40 billion
2045: 24 GW, necessitating €60 billion
Offshore wind power is uniquely positioned to deliver clean, reliable electricity for both industrial and residential needs. It plays a pivotal role in reducing carbon dioxide emissions and enhancing Finland’s energy security. This becomes increasingly vital as the country faces rising electricity demand from large-scale projects like hydrogen facilities and data centers.
Strengthening Finland’s Energy and Climate Strategies
“Offshore wind is a cornerstone of Finland’s transition to sustainable energy,” said Veera Villikari, Advocacy Manager at Renewables Finland. “By establishing clear capacity goals, we can accelerate renewable energy development, advance climate objectives, and boost energy self-sufficiency.”
The goals also align with Finland’s national hydrogen strategy, which aspires to produce 10% of the European Union’s green hydrogen. The development of offshore wind is critical for providing the clean electricity required to support this ambition.
Risks of Falling Behind
Renewables Finland has urged the government to set official offshore wind capacity targets to ensure Finland remains competitive as an investment destination. “Clear national targets are essential to reduce uncertainty for developers and attract the necessary investments,” Villikari emphasized.
Failure to act could jeopardize Finland’s offshore wind growth, potentially leaving capacity at just 1 GW by 2035 and 2 GW by 2040. This stagnation would hinder infrastructure development and the growth of the offshore wind value chain, ultimately weakening Finland’s global competitiveness in renewable energy.
By adopting proactive measures and fostering a favorable investment climate, Finland has the opportunity to position itself as a leader in offshore wind energy and contribute significantly to Europe’s clean energy goals.
Source: Renewables Finland
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