Vattenfall – First large scale offshore wind farm in Finland

We advised Vattenfall in an arrangement whereby Vattenfall and Metsähallitus agreed on the development and construction of Finland’s first offshore wind farm in the open sea area. The offshore wind farm, with a planned nominal capacity of 1.3 GW, is planned to be constructed approximately 15 kilometres off the coast in the municipality of Korsnäs located in Ostrobothnia.

The offshore wind farm is expected to be operational in the early 2030’s, and its annual production is estimated to be approximately 5,000 GWh, corresponding to the annual electricity consumption of more than two million apartment homes or the annual consumption of around 250,000 electricity heated individual houses in Finland. The estimated value of the investment is 2–3 billion euros.

Finland has set the goal of being carbon neutral by 2035 and carbon negative soon after that. Metsähallitus plays a key role in achieving this goal given that they are responsible for managing the state-owned land and water areas in Finland. The offshore wind farm also supports Vattenfall’s strategy to reach its goal of enabling fossil-free living within one generation.

Vattenfall is a leading European energy company. Vattenfall employs approximately 19,000 people and has operations mainly in Sweden, Germany, the Netherlands, Denmark and the UK. Vattenfall is owned by the Swedish state.