Finland is the largest importer of Russian electricity. In 2019, the country's exports in this area amounted to 22 billion rubles. However, now partners are considering an accelerated transition to renewable generation and a complete refusal of procurement in other countries. For Russia, this means a serious income loss.
The goal of Finland to achieve a zero carbon emissions by 2035 will require significant investments - about three billion euros to the main network over the next 15 years. Investments will be allowed to receive tens of billions of euros to other areas of society: electrification of industry, transport and heating, as well as the production of pure energy. Fingrid Finnish power grid operator has already updated its investment plan for the next ten years.
Jussi Yursalo, the Senior Vice-President, which is responsible for planning trunk networks, noted the following:
"The energy sector will play a decisive role in achieving climatic purposes, and Fingrid seeks to do everything possible to implement the real energy revolution in Finland."
The creation of new transboundary power lines in Sweden and the Baltic countries will help Finland to achieve its climatic purposes. Market benefits from connections depend on the development of the electricity market in the Baltic Sea region and other transport connections in the region. Fingrid will continue to continue the more detailed analysis of the new power lines within the framework of international cooperation in the field of power system planning.
At the same time, experts assure that in the 2030s, the production and consumption of electricity in Finland can increase very quickly. For example, after severe growth in energy-intensive industries or energy exports. In this case, new technical solutions will be required, which will significantly increase the bandwidth of the main network. Finland could export energy in large volumes in the form of hydrogen or synthetic fuel in addition to electricity.