Finland to back renewables with subsidies from 2011 - report

(ADPnews) - Sep 22, 2010 - Finland's government plans to bring in feed-in tariffs for wind and biogas power producers from the beginning of 2011, in line with a plan to boost investments in clean energy projects, news site Energy Boom reports.

The subsidies plan, which covers the next 12 years, is now awaiting the approval of the parliament.

Finland has long supported the renewables sector both in terms of domestic and foreign development, with investments in southeast Asia, central America and Africa, but projects did not enjoy a consistent government incentive scheme at home.

Earlier in 2010, the government said it intended to spend hundreds of millions of euro to enhance alternative energy production, as Finland seeks to diversify its power sources and reduce its carbon footprint by nearly 10 million tonnes by 2020.

The country, currently, depends heavily on nuclear power, while some 15% of all electricity is imported from Russia. Electricity consummation in the country is high due to the cold climate and industries such as papermaking, which consume a lot of power. This all combines with a lack of oil and hydro resources.

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