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Wind Energy in Finland

2020 wind energy numbers

Year 2020 was remarkable for wind energy. Amidst the pandemic, installations continued to grow and higher than normal wind conditions took wind share to 9.6% of electricity consumption.

New wind power of 302 MW capacity was installed in Finland. By the year’s end, installed wind power capacity amounted to 2,586 MW with 7.8 TWh of production – a 30% increase from 2019. Renewables provided about 42% of the country’s electricity consumption in 2020: 19.3% from hydropower, 12.4%from biomass, and 9.6% from wind power.

In 2020, Finland consumed 81 TWh of electricity, the lowest value since 2009. Peak demand was 12.7 GW. Electricity consumption went down by 5.2TWh, the largest drop since 2011. The decrease was influenced by the warm winter and lower consumption in industry.

To learn more about Finland’s wind energy sector, please read their chapter in the IEA Wind TCP 2020 Annual Report.

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Megawatt

Total wind power capacity is 2,586 MW.
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Megawatt

Wind power capacity in Finland increased by 302 MW in 2020.
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Terawatt-time

Finland produces 7.8 TWh from wind energy, which accounts for 9.6% of the country’s electricity consumption.

National Targets

As part of the EU’s 20% target, Finland’s renewable energy source (RES) goal is 38% of the final energy consumption by 2020. The target was achieved in 2020 reaching precisely 38%.

Finland exceeded the target for the first time in 2014. The new target sets a 51% share of RES of the gross final energy consumption for Finland in 2030. In connection with this target, the estimated share of electricity consumption from renewables (RES-E) would increase from 41% in 2020 to 50% in 2027 and 53% in 2030.

Progress & Operational Details

Arguably Finland has achieved “cruise speed” in wind power capacity additions in 2020 by installing 302MW new onshore capacity. The figure envisaged by the Finnish government of 5.5GW wind in 2030 translates into 320MW annual capacity additions for the decade 2021-2030, being enough to replace wind being decommissioned.

Combination of high wind and low electricity demand drove down electricity prices to 28.02€/MWh, the lowest value since 2004, and a drop of 36% vs. previous year. This situation was caused by the high wind year, the warm winter and the pandemic context.

Electricity prices were negative three times. First time ever on 10th Feb due to high water reservoir levels and high wind power production as well as warm weather. The minimum was during 2nd Nov: -1.73 €/MWh.

 

National RDD Priorities and Budget

  • The Finnish Funding Agency for Technology and Innovation, Business Finland (BF), continues to be the main public funding organization for research, development, and innovation in the country. Being a change agent for sustainable business is one of the current strategic priorities. BF supports new business from idea to commercialization, having a focus on the export potential of Finnish companies.
  • Business Finland new strategy for 2025 supports wind energy, which is aligned with the following themes:
    • Cleantech, circular economy and bioeconomy: innovative solutions and services to support sustainable businesses.
    • Digitalization: creating a competitive advantage as a global innovation and technology leader
  • The public funding level for wind power R&D projects in 2020 was around 2.28 million EUR (3.15 million USD) according to Business Finland, the largest investment since 2013.
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