EUR 127 million of EU grants for the Aurora Line electricity transmission link
On 26 January 2022, the EU granted EUR 127 million in support for the Aurora Line, a new electricity transmission link between Finland and Sweden. The support was granted under the Connecting Europe Facility. The Aurora Line is a new interconnector between Finland and Sweden scheduled for completion in 2025. It is the most important power grid investment of the decade for Finland.
Fingrid and the Swedish transmission system operator Svenska kraftnät are preparing a new electricity transmission link between Finland and Northern Sweden. The transmission line will run from Pyhänselkä in Muhos, Finland, to Messaure in Northern Sweden, a distance of 380 kilometres. The line will be completed in phases in 2024 and 2025. The project, known as the Aurora Line, has been designated as Project of Common Interest of the EU, as the EU considers it a significant project for Europe as a whole.
At present, the electricity transmission capacity between Finland and Northern Sweden is insufficient – a fact that is reflected by the difference in the market prices. When the Aurora Line is completed, it will increase the electricity transmission capacity from Sweden to Finland and reduce the price of electricity in Finland. At the same time, the Aurora Line will enable further construction of renewable energy and promote the achievement of climate goals. The interconnector will also improve the security of energy supply in Finland and the Baltic Sea region more widely.
The total costs of the construction phase of this joint project run by Fingrid and the Swedish transmission system operator amount to EUR 254 million. The EU grant corresponds to half the costs of the construction phase. The project has already been granted EUR 4.3 million of funding under the Connecting Europe Facility for the planning phase. As the project will be particularly beneficial for Finland, Fingrid is paying the majority of the investment cost and will also receive most of the grant on this basis.
“The Aurora Line is the most important investment in Finland’s main grid this decade. It represents a major step forward in the electrification of Finland, bringing us closer to our goal of becoming carbon neutral by 2035. The Aurora Line will also contribute to the emergent industrial cooperation between Finland and Sweden in the Bay of Bothnia region,” says Jukka Ruusunen, Fingrid’s President & CEO.
“We are grateful to Finland’s political decision-makers, members of the European Parliament, civil servants, and Fingrid’s customers for their strong support of this project. I am sure that the support expressed by Finnish parties played a part in securing the funding. The EU grant will ensure the smooth implementation of the project and directly benefit all electricity consumers in Finland,” Ruusunen says.
Further information:
Jukka Ruusunen, President & CEO, Fingrid Oyj
Tel. +358 30 395 5140 or +358 40 593 8428
Mikko Heikkilä, Manager, Strategic Grid Planning, Fingrid Oyj
Tel. +358 30 395 5113 or +358 40 637 4720
Email addresses are in the form firstname.lastname@fingrid.fi
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