28.11.2023 15:28
Current News, Press Releases

Main grid development plan strengthens Finland’s competitiveness

Fingrid has published its main grid development plan for the period from 2024 to 2033. The main grid development plan is published every two years and presents the main grid’s development needs and planned investments for the next ten years. The updated development plan foresees approximately EUR 4 billion of investment in the main grid. These investments lay the foundations for Finland’s competitiveness by enabling investments in clean electricity production and industry in Finland.  

The main grid development plan is based on network plans prepared to account for the condition of the main grid and an increase in electricity transmission volumes due to customer needs and the electricity market. A draft version of the plan was published for a customer and stakeholder consultation in summer 2023. In autumn 2023, Fingrid published its responses to the opinions submitted. The development plan has also been coordinated with the joint European Ten-Year Network Development Plan and the plan for the Baltic Sea region. 

The updated development plan for the period from 2024 to 2033 foresees approximately EUR 4 billion of investment in the main grid. Replacing combustion processes with electricity and new industrial investments using clean energy will increase electricity consumption and processes, requiring substantial investments in the main grid.  

The main grid investments will promote Finland’s competitiveness as a place to invest in clean energy and support its goal of becoming carbon neutral by 2035. The investments will strengthen Finland’s internal electricity transmission capacity and cross-border connections. They will also enable new customer projects to connect to the main grid. 

The planned projects are based on various assumptions about Finland’s future electricity production and consumption structure. One precondition for the realisation of the investment programme is a licensing and regulatory environment that supports the main grid investments. 

The development plan will be revised as necessary to keep pace with advances in the operating environment and customer projects. Separate investment decisions will be made for the projects in the plan once the need for the projects and the technical implementation are confirmed. 

Fingrid’s main grid development plan for the period from 2024 to 2033 has been published on the Fingrid website at www.fingrid.fi/kehittamissuunnitelma (English version will be published soon) 

Further information: 

Jussi Jyrinsalo, Senior Vice President, Fingrid Oyj  

Our previous press release:  

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