Offshore wind in Finland: ambitions, opportunities and challenges

Flanders Investment & Trade (FIT) organised the study trip together with De Blauwe Cluster, bringing a diverse group of Flemish companies, knowledge institutions and policymakers to Finland. Through site visits, presentations and networking sessions, participants gained unique insights into Finland’s energy transition and the role of offshore wind within it.

The Finnish government aims to source at least 50% of its energy from renewables by 2030. Offshore wind is set to be a key driver, with 3 GW of installed capacity targeted by 2030 and 16 GW by 2040. Demand for green electricity is rising rapidly, driven by applications such as hydrogen production, the battery industry and data centres.

Finland is preparing major investments in the high-voltage grid and new coastal connection points. In parallel, the government is developing a transparent tendering system for offshore wind projects in both territorial waters and the exclusive economic zone. The first auctions are expected from 2025–2026.

Both large international developers (Ørsted, Equinor, Iberdrola, Vattenfall, RWE, Skyborn) and strong local companies (Fortum, Helen, TVO) are showing interest. Finland also boasts an extensive network of suppliers and test facilities that will play a crucial role in delivering projects.

Alongside major opportunities, there are several challenges: icy conditions, ecological sensitivities in the Baltic Sea, and a low-price power market that raises questions about financial feasibility. Success will require a robust approach and close cooperation among all stakeholders.