20.6.2023 09:08
Press Releases, Current News

Fingrid’s main grid development plan provides for increased investments to promote Finland’s competitiveness

Fingrid has updated its main grid development plan, with investments in the main grid rising from the previously estimated, slightly over three billion to four billion euros. The aim of the main grid investments is to create the conditions for Finland’s competitiveness in industrial investments and enable the achievement of carbon neutrality targets by 2035.

Fingrid publishes a main grid development plan every two years to outline the main grid’s development needs and planned investments for the next ten years. A draft of the 2024–2033 development plan has now been published for stakeholders to comment on.

The development plan is the best current estimate of future investments in the main grid. The planned projects are based on various forecasts and assumptions about the future. These may change over time, which means that the implementation and timelines of the planned investments may change as well. Investment decisions on the projects included in the plan will be made separately once the need for the projects and their implementation are confirmed.

Investments in the main grid strengthen Finland’s position as a competitive country for clean energy investments

The investments estimated for 2024–2033 in the updated main grid development plan amount to EUR 4 billion. The rise in investments in the main grid is driven by industrial investments utilising clean energy and the electrification of society, which require an increase in emission-free electricity production and high security of energy supply.

“Finland’s rapidly growing renewable electricity production and the opportunities associated with it are attracting industrial activities that utilise clean and affordable electricity. This will result in an accelerating transformation of the energy system that will challenge the main grid to develop at an even faster pace to meet the needs of customers,” Jussi Jyrinsalo, Senior Vice President at Fingrid, affirms.

Internationally, Finland presents itself as one of the world’s most interesting investment targets for projects based on renewable energy. According to an estimate by the Confederation of Finnish Industries, low-emission investments worth EUR 90 billion are already being planned in Finland.

The main grid connection enquiries received by Fingrid for clean electricity production and recently for green technology industrial projects in particular have continued to increase during the past year. Fingrid estimates that wind and solar power capacity may quadruple and, at the same time, industrial electricity consumption may double in the early 2030s.

Increasing electricity transmission capacity inside Finland and strengthening cross-border connections

As part of the main grid development plan, Fingrid will strengthen electricity transmission capacity inside Finland and cross-border connections, as well as enable the connection of new customers to the main grid.

In order to increase cross-border capacity, the Aurora Line – a new 400 kV cross-border connection – is currently under construction between Finland and Sweden and is set for completion in 2025. Fingrid is also planning a new cross-border connection (Aurora Line 2) between the two countries, in collaboration with the Swedish transmission system operator. Additionally, Fingrid is planning a third direct current cable between Finland and Estonia, in unison with the Estonian transmission system operator.

There are plans to raise the transmission capacity between Northern and Southern Finland with several new 400 kV transmission line connections. The Lake Line from Vaala to Joroinen will be strengthened by 2026 and the Forest Line from Vaala to Central Finland by 2030. The new Ridge Line from Haapajärvi and Kajaani to Southern Finland should be ready in 2032. A new transmission connection from Rovaniemi in Northern Finland to Vaala is also being planned.

In addition, there are plans for two new 400 kV transmission line connections from Kalajoki and Kristinestad on the west coast to Southern Finland, which will enable the connection of new electricity production and consumption projects to the west coast. To enable the considerable wind power potential of Kainuu, a 400 kV meshed grid is being planned from Hyrynsalmi to Vaala and Muhos.

The investment programme also provides for several substation projects and the construction of compensation equipment to, for example, support the main grid as electricity generation by power park modules increases.

Responsible development of the main grid requires environmental consideration and smooth co-operation in project permit procedures

Investments in the main grid enable the transition to a clean electricity system and contribute to safeguarding the vital functions of society.

The implementation of main grid investments requires smooth progress in project permit procedures and positive co-operation with landowners and other stakeholders. The necessary environmental studies are carried out for investment projects, and their environmental impacts are being reduced and mitigated during the periods of planning, construction and operation as a whole.

Fingrid’s investments in the main grid.

Read the draft main grid development plan and provide feedback

The draft main grid development plan is available on Fingrid’s website at www.fingrid.fi/kehittamissuunnitelma You can provide email feedback on the draft until 31 August: palautteet@fingrid.fi. After that, the plan will be updated and the final development plan will be published in late 2023.

Further information:

Jussi Jyrinsalo, Senior Vice President, Transmission System Services and Grid Planning, Fingrid Oyj, tel. +358 30 3955118

Timo Kiiveri, Senior Vice President, Asset Management, Fingrid Oyj, tel. +358 30 3955136