In November 2023, Metsähallitus launched the tendering process for planned offshore wind projects known as Ebba and Edith in Finland’s territorial waters. The goal was to find commercial partners that would purchase the rights to these projects, lease the offshore sites from the state, and build and operate offshore windfarms. The tendering process has now been concluded without selecting a partner. The tendering process for project rights and commercial implementation will be reopened later.
The combined capacity of the two planned offshore wind projects, Edith in Närpiö and Ebba in Pyhäjoki-Raahe area, is approx. 3,000 MW. The estimated total investment value of the projects is EUR 6–8 billion.
“The international market situation of offshore wind energy is extremely challenging. We organised a thorough tendering process, and both Finnish and foreign participants showed interest in the projects. Negotiations went on until the end of the process, however without leading to a contract. Metsähallitus will continue project development and planning. Once investment prospects improve, we will put the projects on the market in a more mature state,” says Otto Swanljung, Senior Vice President of Property Development and Renewables at Metsähallitus. Information regarding participating parties or their bids is not public.
During this summer seabed surveys were completed in both Edith and Ebba. Wind measurements, nature surveys and technical planning of the projects for the purposes of the environmental impact assessment are under way.
Finland needs offshore wind power
Metsähallitus still estimates that Finland will need significantly more emission-free electricity generation capacity over the next ten years.
The green transition is progressing continuously, and industrial processes are being electrified at an accelerating pace. Numerous energy-intensive projects are also emerging in Finland, while consumers’ dependence on electricity in their daily lives’ is increasing rapidly. At the same time, our understanding of the marine environment and our expertise in offshore wind power are strengthening. We have approved project sites in Finland’s territorial waters with potential capacity amounting to 6,500 MW, where preliminary studies are being carried out. As soon as sufficient prerequisites for investments exist, these projects could go ahead rapidly in the next few years,” says Otto Swanljung.
In addition to the investment environment and global supply chains, the profitability of offshore wind power investments is influenced by factors such as the development of electricity market regulation and offshore wind markets, the smoothness of zoning and permitting processes, and securing access to the electricity grid.
Metsähallitus develops offshore wind projects and leases sites for offshore wind power in territorial waters
Metsähallitus is responsible for managing state-owned land and water areas, and since 2021, it has held the exclusive right to develop offshore wind power projects within territorial waters. In 2022, Metsähallitus organized a competitive tender for an offshore wind power project planned off the coast of Korsnäs. Vattenfall was selected as the commercial partner through the tendering process. Vattenfall is currently developing the Korsnäs project in cooperation with Metsähallitus.
In the offshore wind projects initiated before 2021, Metsähallitus acts as the lessor of the area. These include an expansion project of Tahkoluoto Offshore’s wind farm in Pori, Skyborn Renewables’ Pooki offshore wind project in the Bothnian Bay and Rajakiiri’s Maanahkiainen off Raahe and Pyhäjoki. The Energy Authority is responsible for the tendering processes for offshore wind in Finland’s exclusive economic zone.
See our website for more information regarding the progress of Korsnäs, Edith and Ebba offshore wind power projects.
Further information:
Otto Swanljung, Director, Metsähallitus Real Estate Development, tel. +358 40 560 1715, otto.swanljung@metsa.fi
Annina Hästö, Head of Offshore Wind, Metsähallitus, tel. +358 40 355 2875, annina.hasto@metsa.fi