Vattenfall has entered into a joint venture with Metsähallitus to build and operate a 1500MW offshore wind farm, in Finland.
The project, located at Korsnäs off the Finnish west coast, was selected in the first of a number of international offshore wind tenders to be carried out by Metsähallitus, which manages the land and water areas of the Finnish state.
The wind farm, with an estimated investment value of €2-3bn, will be operational in the early 2030s.
Mayor of Korsnäs municipality Christina Båssar said: “In Korsnäs we are proud to be part of this project which is very important for Finland.
“We warmly welcome Vattenfall to Korsnäs and look forward to the progress of the project.”
“We are very honoured to have been selected to develop Finland’s first large scale offshore wind farm.
“We are looking forward to bringing our broad experience to the Korsnäs project, supporting Finland to reach their ambitious climate targets,” said Helene Biström, Head of Business Area Wind at Vattenfall.
Finland has set the goal to reach net zero emissions by 2035 and ss the steward of state-owned land and water areas, Metsähallitus plays a key role in achieving this goal.
“We are very pleased to partner with Vattenfall, which presented strong experience on large-scale offshore wind projects together with sustainable business practices in addition to competitive commercial terms.
“We are confident that this project will benefit the people of Korsnäs, the economic zone around Vaasa as well as the state of Finland,” said Juha Niemelä, Director General of Metsähallitus.