Karstula Wind Farm, Finland

Karstula Wind Farm is a 55MW onshore wind power project. It is planned in Central Finland, Finland. The project is currently in permitting stage. It will be developed in single phase. Post completion of the construction, the project is expected to get commissioned in 2023.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.

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Project Type	Total Capacity (MW)	Active Capacity (MW)	Pipeline Capacity (MW)	Project Status	Project Location	Project Developer
Onshore	55	–	55	Permitting	Central Finland, Finland	European Energy

Description

The project is being developed and currently owned by European Energy.

The project is expected to generate 160,000MWh electricity and supply enough clean energy to power 19,500 households. The project cost is expected to be around $103.895m.

Development Status

Post completion of the construction, the project is expected to get commissioned in 2023.

About European Energy

European Energy AS (European Energy) is a renewable energy company that builds, develops, and finances wind and solar farms and large-scale green energy storage. The company offers services for solar and wind energy projects such as finding location and securing permits, construction, and financing services. Its project includes Botsmark. European Energy provides advisory in relation to transactions of renewable energy plants. It also offers corporations and utilities power purchase agreement for new wind and solar farms. The company has partnerships with banks and suppliers, land owners, municipality and regional offices. It develops and constructs parks in Denmark, Sweden, Finland, Germany, Italy, Brazil, and in Mexico. European Energy is headquartered in Soborg, Denmark.

Methodology

All power projects included in this report are drawn from GlobalData’s Power Intelligence Center. The information regarding the project parameters is sourced through secondary information sources such as electric utilities, equipment manufacturers, developers, project proponent’s – news, deals and financial reporting, regulatory body, associations, government planning reports and publications. Wherever needed the information is further validated through primary from various stakeholders across the power value chain and professionals from leading players within the power sector.