Whether to Pursue a New Nuclear Reactor will be the Defining Decision for Finland’s Energy Future
Finland is a net importer of electricity. Most of its imports originate from Russia, but it plans to build additional nuclear power plants to decrease this dependency. The share of nuclear power in electricity generation will increase when the new Olkiluoto 3 EPR nuclear power plant becomes operational in 2018 (assuming there are no final delays).
In 2015, almost 80% of the electricity generated in Finland was emission-free. Research projects that by 2030, approximately 92% of the electricity generated would be emission free and the share of renewables in electricity generation will reach approximately 56% by 2030. The Finnish Transmission System Operator, Fingrid, is currently upgrading the grid to allow smooth transmission from the new wind and other renewable energy sources (RES) installations being built in the northern part of the country. Finland does not have its own fossil fuels - coal, oil or natural gas - but does have large reserves of biofuels, peat, and extensive wood resources. These resources will play a vital role in the Finnish energy transition.
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Companies Mentioned
A selection of companies mentioned in this report includes:
- Fingrid
