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Finland: Wind Power to Account for 16.7% of Domestic Electricity Generation in 2022

On January 12, the Energy Industry Association of Finland published PDF file a report on the energy situation in 2022, calling for increased domestic power generation and reduced electricity consumption in order to escape the energy crisis.

Regarding the composition of Finland's power supply in 2022, the share of zero-emission power generation reached a record high of 89%. On the other hand, the end of gas and electricity imports from Russia in May 2022 led to a significant decrease in the use of gas in the industrial sector and other sectors.

In nuclear power generation, there was a period of expansion in the amount of electricity generated by Olkiluoto NPP Unit 3, which accounted for 35% of total electricity generated in the country, up 2.3 percentage points from the previous year. In wind power generation, the construction of 2,430 megawatts (MW) of new wind power generation facilities in 2022 led to an increase in the amount of electricity generated, with its share rising by 5.0 percentage points from the previous year to 16.7%. On the other hand, due to dry autumn weather, hydroelectric power generation was slightly lower than in 2021, as well as bioenergy.

Finnish renewable energy operator NYAB and international wind power producer Energikere announced on January 19, 2023, that they have signed a BOP (Balance of Plant, note) agreement for the Mikonkeidas wind farm. The two companies will start construction of the Mikonkeydas wind farm in the Ostrabotnia region of western Finland in February, with completion scheduled for early 2024. The entire project is scheduled for completion in September 2024, with a contract value of approximately EUR 18 million. The Mikonkeidas wind farm will be equipped with 16 wind turbines with a total output of 105.6 MW.

Montinutra, a portfolio company of wood pulp giant Metsa Group, announced on January 18 that it has secured a €7 million investment from Business Finland to build the world's first plant to upcycle (creatively reuse) forestry by-products, opening in a new window to an external site. Montinutra will use biofuels made from by-products such as sawdust and bark to produce cost-effective products with minimal environmental impact through upcycling. The product will also significantly reduce carbon dioxide (CO2) emissions as it replaces fossil-based feedstocks.


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