Vattenfall has entered a joint venture with Metsähallitus to build and operate Finland’s first major offshore wind farm. The project, located at Korsnäs off the Finnish west coast, will have a capacity of 1.3 GW and a potential annual production of 5 TWh.
Vattenfall was selected in the first of several international offshore wind tenders to be carried out by Metsähallitus, which manages the land and water areas of the Finnish state.
“Vattenfall is a leading offshore wind developer in Europe. We are very honoured to have been selected to develop Finland’s first large scale offshore wind farm. We are looking forward to bringing our broad experience to the Korsnäs project, supporting Finland to reach their ambitious climate targets,” says Helene Biström, Head of Business Area Wind at Vattenfall.
“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 has set the goal to reach net zero emissions by 2035. As the steward of state-owned land and water areas, Metsähallitus plays a key role in achieving this goal.
“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.
Facts about Korsnäs wind farm
- Located at Korsnäs, off the Finnish west coast, with an installed capacity of 1.3 GW and an approximate production of 5 TWh. The estimated investment value is EUR 2-3 billion and the wind farm will 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.