Green investments need a lot of electricity

The project leaders answered the following questions:

1. What is your company’s current project?
2. Why are you investing in Finland?
3. What would you like to say to Fingrid?

CPC Finland Oy/Koppö Energia Oy

CPC Finland has built 417 MW of wind and solar power plants. “We are also involved in a company called Koppö Energia Oy,” says Erik Trast, Managing Director of CPC Finland.

1. Koppö Energia is building a 200 MW e-methanol plant in Kristinestad. Synthetic methanol is made from hydrogen produced with renewable electricity and recovered carbon dioxide. The plant is in the final stages of planning and permitting and will be completed in 2028. It has received support from both the Ministry of Economic Affairs and Employment of Finland and the EU-Hydrogen Bank.
2. Our German backer values Finnish transparency, a good grid and the availability of wind power. Financiers also see Finland as a reliable country.
3. I hope that the main grid will remain high in quality and continue to be developed. It would be good to have reasonable grid service fees in order to maintain the industry’s viability.

Eurowind Energy Oy

A Danish-owned company that builds wind turbines and aims to remain their owner. “Globally, Eurowind’s repertoire also includes solar power plants and PtX,” says Tuuli Vapaavuori-Vartiainen, Country Manager for Finland.

1. A wind farm with 10 turbines is planned for Lapinlahti. The master plan decision is expected in the autumn, and commissioning will take place in 2027. Nine other projects are also underway.
2. Finland has had a stable legislative and operating environment. It has a good grid and the world’s best network operator, which serves project developers well.
3. The government has been considering amendments to legislation that would make it more difficult to build wind turbines. I hope that Fingrid and all the other players in the sector will do everything they can to ensure that wind power can continue to be built in Finland.

Taaleri Energia Oy

Taaleri Energia is a renewable energy fund manager that develops, invests in, builds, operates and subsequently exits from renewable energy projects. “We are active in 14 countries,” says Petri Isotalus, Chief Investment Officer.

1. For example, we are financing a 130 MW solar power plant being built in Joroinen. It will start producing electricity in summer 2026. In total, we have around 9.1 GW of projects at various stages of development.
2. Demand for electricity is growing, and now is a good time to make the industrial investments needed to meet it. For investors, it is important that Finland is a stable country with a good transmission system operator.
3. Fingrid ranks highly in international comparisons of transmission grids: it is reliable and transparent. We expect it to ensure continued access to the grid and electricity generation.

Green North Energy Oy

Green North Energy is a project development company. “We develop and operate green hydrogen and ammonia production plants,” says Jussi Ylinen, CEO.

1. Our Naantali green ammonia plant – one of the first of its kind in Europe – received an environmental permit in January. The aim is to have part of the production capacity in use by 2029. The timetable is affected by the market situation. To bring the plant to its final scale, the network will need to be reinforced, as the plant will require the same amount of electricity as the area of Tampere.
2. Finland has a lot of cost-effective renewable electricity generation now and will have more in the future. It also has the water we need for our production, engineering expertise and the best network operator in the world.
3. We hope that our good cooperation with Fingrid will continue in the future.

Merus Power Plc

Merus Power provides electricity quality solutions for industry. “We are eliminating disruption from the electricity grid. We also make grid energy storage facilities to balance production and consumption in the grid,” says Kari Tuomala, CEO.

1. In Valkeakoski, a 30 MW/36 MWh grid energy storage facility will be completed at the end of the summer by a Swiss electricity company. The French ENORDIC/ARDIAN infrastructure fund has invested in a grid energy storage system in Lappeenranta that is already operational and will also invest in a grid energy storage system that will come online next year in Riihimäki.
2. Our customers appreciate the predictability of the Finnish market, the investments in renewable energy production and the good return expectations.
3. We hope that our cooperation with Fingrid will continue to be as good and flexible as it has been.

Blastr Green Steel Oy

Blastr Green Steel of Norway is developing a low carbon steel plant in Inkoo. “It has an integrated clean hydrogen production plant,” says CEO Mark Bula.

1. The aim of the Inkoo project is to significantly reduce emissions from the steel industry. The plant reduces iron using hydrogen instead of carbon. The project plan has been approved.
2. Finland has plenty of renewable energy resources, a stable operating environment, a skilled workforce and good infrastructure. Inkoo is also well connected by sea, for example.
3. A lot of electricity is needed to produce fossil-free steel. We are working closely with Fingrid to conclude a contract to connect to the electricity grid.