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Wind beats all in Finland's 1st renewables auction

Wind turbine in Finland. Author: pikkuanna.

March 28 (Renewables Now) - A technology-neutral renewable energy tender in Finland has attracted proposals only from the wind sector, with seven projects securing premium tariffs, the Finnish Energy Authority announced.

The tender, launched in November 2018, sought bids for 1.4 TWh of wind, solar, biomass, biogas and wave power and marked the start of Finland’s transition from feed-in tariffs (FiT) to an auction mechanism. The tender has ended up with an average winning price of EUR 2.49 (USD 2.8) per MWh, with bids ranging between EUR 1.27/MWh and EUR 3.97/MWh.

According to the Authority’s statement on Wednesday, a total of 26 proposals were put forward, while 19 of them failed to secure contracts as the suggested tariffs were not competitive. The overall capacity of the seven winning schemes amounts to 1.36 TWh. The list of successful developers and projects is available in the table below. 

Developer Project name Tariff (EUR per MWh)
Kestilan Kokkonevan Tuulivoima (ABO Wind and Infinergies Finland) Kestilan Kokkonevan Tuulivoima  1.27
CPC Finland Oy  Lakiakangas 3 1.89
Puhuri Oy  Parhalahti  1.89
Hankilanneva 2.62
VindIn Kalax  Kalax 2.87
Tuuliwatti Oy Tuuliwatti Simo Leipio III 2.94
Tuulipuisto Oy Hirvineva  Hirvineva-Liminka 3.97

Winners will be awarded the tariff plus a feed-in premium, the exact amount of which will depend on whether the average three-month market price of electricity is equal to, lower or higher than EUR 30/MWh. No aid will be paid if the market price is higher than the sum of the reference price and the approved premium.

All projects have to be completed by 2020.

(EUR 1.0 = USD 1.126)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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