Finland’s wind energy capability has elevated by 75% in 2022, attracting billions of {dollars} in capital

Finland saw a 75% increase in wind power capacity last year, boosting the country’s renewable energy credibility.

According to the latest statistics from the Finnish Wind Power Association (FWPA), 2022 was a record time for green electricity. Specifically, 437 new wind turbines with an output of 2,430 MW were put into operation. Additionally, wind power provided 14.1% of the country’s electricity consumption, up from 9.3% in 2021, a period in which 141 turbines were installed.

As a result, Finland now has a total of 1,393 wind turbines with a combined capacity of 5,677 MW – up almost 43% in 2022 alone. About 47% of all wind power is domestically owned and most turbines are between 3 and 4.99 MW.

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In particular, the projects completed last year brought investments worth over 2.9 billion euros to the country. This makes wind energy one of the most heavily funded sectors in the Nordic nation.

“No other industry currently brings as many annual investment euros to Finland as wind power. Wind energy also brings vitality to many small communities that otherwise have few investment targets,” noted Anni Mikkonen, CEO of FWPA.

“In addition to investment, wind power is now increasing our country’s energy self-sufficiency at a really good pace – just when new and affordable power generation is needed most. Currently, no other power generation can be built so quickly and cheaply in Finland,” she added.

According to the FWPA, the future of Finnish wind energy is looking brighter and brighter. Around 1,000 MW of power capacity will be completed this year, over 1,200 MW in 2024 and around 1,000 MW in 2025 – when wind power is expected to cover at least 28% of Finland’s electricity consumption.

If this pace is maintained, the country will not only improve its energy efficiency but also increase its competitive advantage in the industry – ultimately attracting more capital for its wind projects and encouraging local companies active in the field.