Investments in new energy technology

The objective of the investment is to contribute to Finland’s goal of achieving carbon neutrality by 2035 by stimulating the introduction of new clean technologies for energy production and use. The support shall prioritise sectors where emission reductions are difficult and costly (‘hard-to-decarbonise sectors’).

The investment, which will be completed by 30 June 2026, shall provide support for large-scale projects in the demonstration phase with a priority on technical feasibility, with a particular focus on: i) offshore wind energy production; ii) renewable fuels in transport (electric fuels and biofuels); iii) non-combustion heat production such as geo-energy to replace the use of coal; and iv) other renewable energy projects such as large biogas transport projects using low-used inputs, large-scale solar energy projects and projects that promote energy storage

In October 2022 a total of EUR 28.5 million was granted to two projects using new energy technology, namely Ilmatar Energy Oy in Alajärvi and Kyyjärvi and Exilion Tuulivoima in Simo. Ilmatar Energy Oy was granted EUR 19.6 million and Exilion Tuulihankkeet Ky EUR 8.9 million for investments in solar electricity. The projects will demonstrate the production of solar electricity on an industrial scale in a way that integrates solar power with wind power production and electricity storage. The future power plants of Ilmatar Energy Oy and Exilion Tuulihankkeet Ky will generate 150 MW and 70 MW of electricity, respectively. These projects are significantly larger in scale than the current solar power plants in Finland, which generate up to 10 MW of electricity. There are also no solar power plants of this size in the Nordic countries.

More information about the investment can be found here.

More information about the Ilmatar Energy Oy in Alajärvi and Kyyjärvi project can be found at the links below:

• https://ilmatar.fi/en/
• https://ilmatar.fi/en/project/alajarvi-moksy-and-louhukangas/

More information about the Exilion Tuulihankkeet Ky project can be found here.