Renewables Finland has set ambitious goals for developing offshore wind capacity: 1 gigawatt (GW) by 2030, 7 GW by 2035, 16 GW by 2040, and 24 GW by 2045. Currently, Finland has 44 megawatts of installed offshore wind capacity. These targets, developed by Renewables Finland’s offshore wind committee, are based on current industry projections and the progress of ongoing projects.
Numerous offshore wind projects are underway in Finland’s maritime areas, spanning various stages of planning and development. These projects highlight the vast potential of Finnish waters for generating renewable energy. According to scenarios developed by the offshore wind committee, offshore wind capacity in Finland could be built as follows:
| Year | Installed Offshore Wind Capacity | Investments (EUR) |
|---|---|---|
| 2030 | 1 gigawatt | 2.5 billion |
| 2035 | 7 gigawatts | 17.5 billion |
| 2040 | 16 gigawatts | 40 billion |
| 2045 | 24 gigawatts | 60 billion |
Offshore wind power provides reliable and clean electricity for both industrial and residential needs. It significantly reduces carbon dioxide emissions while enhancing Finland’s energy security. Its role becomes especially vital considering the growing electricity demand driven by large-scale investments such as data centers and hydrogen projects.
“Offshore wind power is a critical part of Finland’s journey toward cleaner and more sustainable energy production,” says Veera Villikari, Advocacy Manager at Renewables Finland.
“By setting clear capacity targets, we can not only accelerate the development of renewable energy but also advance climate goals and strengthen Finland’s energy self-sufficiency.”
Supporting Finland’s hydrogen strategy
Renewables Finland’s offshore wind targets align with the country’s ambitious hydrogen strategy. Finland aims to produce 10 percent of the European Union’s green hydrogen, which requires significant amounts of clean electricity. Offshore wind can serve as a key energy source for this development.
Risk of falling behind
The offshore wind industry calls on the Finnish government to establish national offshore wind capacity targets to solidify Finland’s position as an attractive investment destination.
“Setting clear national targets for offshore wind capacity is essential for Finland to establish itself as a competitive investment destination,” Villikari states. “Targets provide clear and predictable frameworks that reduce uncertainty for project developers and investors alike.”
If Finland fails to create a favorable investment environment and attract sufficient investments, Renewables Finland estimates capacity could stagnate at just 1 GW by 2035 and 2 GW by 2040.
The lack of capacity targets would not only undermine Finland’s competitiveness but also hinder investments in infrastructure expansion and the development of the offshore wind value chain.
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