Fingrid, the operator of the Finnish electricity system, will invest a record of €3 billion in grids over the next ten years. These investments will enable electrification and increase the pace of RES construction. Fingrid plans to build new cross-border connections to Sweden and Estonia.
The increase in the level of investment (from €2 billion to €3 billion) in the main grid is due to the increasing electrification of society and higher electricity consumption. Industry, urban heating, and transportation are changing at a rapid pace as Finland moves toward the goal of climate neutrality.
In 2021 alone, Fingrid has more than 50 substation projects and numerous transmission line projects that will connect up to 4,500 MW of wind power capacity to the main grid. In addition to onshore wind turbines, interest in connecting offshore wind and solar power to the grid is growing rapidly.
“A strong main grid and renewable electricity generation are important competitive factors for Finland. We are investing in the main grid to enable climate goals and clean energy-based industrial investments, says Asta Sihvonen-Punkka, Executive Vice President of Fingrid.
Recently, hydrogen production has been of particular interest. The number of Finnish hydrogen projects is expected to increase in the coming years. In addition, large energy-intensive data centers and battery factories are being built in Finland.
Strengthening cross-border connections
The increase in investment is driven by the goal of building new cross-border connections to Sweden and Estonia early in the next decade. These connections will increase electricity market efficiency and promote balance in a power system dominated by wind power.
The most important major network investment of this decade is the Aurora line, a new transmission link between Finland and Sweden. Construction on the Finnish side will begin this year and the connection will be completed in 2025. There are also plans to build a fourth interconnector with Sweden, known as Aurora Line 2, in the early 2030s. In addition, Fingrid plans to build a third Estlink HVDC transmission link between Finland and Estonia. The link could be built in early 2030.
The transmission capacity between Northern and Southern Finland will be further increased when the Lake Line is completed in 2026.
Source : Fingrid