Finland launches technology neutral RE auction

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Finland’s Energy Agency has launched the country’s first technology neutral auction for large-scale renewable energy projects. It said wind, solar, biomass and wave power projects will be eligible to compete in the auction, and that project proposals may be submitted between November 15 – 30.

Through the auction, the agency hopes to contract annual electricity production of 1.4 TWh. It said the amount of annual support for the auction is estimated at around €7 million.

Finland has so far developed solar energy in the distributed generation segment. At the end of 2017, the country’s cumulative installed solar power reached just 80.4 MW, with last year’s PV additions totaling around 43 MW.

Overall, it is aiming to source 50% of its electricity from renewables by 2020. However, it has no specific target for solar energy development. The country does, however, have several policies to support solar energy production for self-consumption.

The Ministry of Economic Affairs and Employment currently awards a 25% rebate covering the costs for buying and deploying a PV system to homeowners, business and communities. Agricultural companies can also apply for a 40% investment subsidy for renewable energy production from the Agency for Rural Affairs.

Furthermore, individuals can take advantage of tax credits, provided the systems are installed as a retrofit to an existing building.