Vattenfall and Metsähallitus have joined forces to build and run Finland's first major offshore wind farm. The project will be built at Korsnäs, off the west coast of Finland. It will have a capacity of 1.3 GW and could produce 5 TWh per year.
"Vattenfall was selected in the first of a number of international offshore wind tenders to be carried out by Metsähallitus, which manages the land and water areas of the Finnish state," Vattenfall said.
“With this project, Vattenfall is expanding its role in Finland; from one of the largest electricity retailers to a significant renewable energy producer,” says Elina Kivioja, CEO at Vattenfall Oy.
Finland plans to reach net zero emissions by 2035.
“We are very pleased to partner with Vattenfall, which presented strong experience on large-scale offshore wind projects together with sustainable business practices in addition to competitive commercial terms. We are confident that this project will benefit the people of Korsnäs, the economic zone around Vaasa as well as the state of Finland,” says Juha S. Niemelä, Director General of Metsähallitus.
The estimated investment value for the offshore wind project is 2-3 billion EUR and the wind farm is expected to be operational in the early 2030s.
Once complete, the Korsnäs wind farm will produce renewable energy equivalent to the annual consumption of more than two million apartment homes or the annual consumption of around 250,000 electricity heated individual houses in Finland, Vattenfall said.