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€2.3b Danish investment in Finnish wind energy

Denmark's Copenhagen Infrastructure Partners and Finnish wind and solar energy developer Myrsky Energia have signed a cooperation agreement to build 1,800 megawatts of wind power.

A wind power turbine viewed from below.
Wind power plants are being built in Finland at a breakneck pace. Image: Taneli Kärki
Yle News

The agreement between the Danish investment firm and Myrsky Energia calls for Copenhagen Infrastructure Partners (CIP) to invest 2.3 billion euros in the construction of onshore wind power in Finland during this decade.

The investment is earmarked for the construction of new wind power plants with a total generating capacity of 1,800 megawatts.

Finland's current total wind power generation capacity is 5,700 MW, so this new agreement corresponds to a one-third increase in wind power output.

Myrsky Energia, a Finnish company set up to design and build wind power plants, does not yet own or operate any power plants. In addition to this new venture with CIP, Myrsky Energia has more than 30 wind power projects underway with a combined capacity of around 5,000 megawatts. According to the company, construction of its first wind farms is planned to start next year.

The CIP contract now covers almost half of these projects.

"Wind power forms a huge opportunity for the whole of Finland. It can bring us the same kind of prosperity as our neighbour Norway has received from its own energy reserves over the past few decades," Tuomas Candelin-Palmqvist, COB of Myrsky Energia, stated in a release Wednesday.

The largest wind power company in Finland is Sweden's OX2, which has more than 9,000 megawatts of wind power projects pending in Finland.

The level of wind power production in Finland has been rising at a rapid pace. Last year, wind-generated power on the market increased from 3,200 megawatts at the beginning of January to 5,200 megawatts by the end of the year. So far this year, it has gone up by yet another 500 MW.

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