Finland Starts Partner Selection Process for 1.3 GW Offshore Wind Project | Offshore Wind – Offshore WIND

Finnish state-owned enterprise Metshallitus is releasing preliminary market information and launching its partner selection process for the planned 1.3 GW Korsns offshore wind power project.

Metshallitus said it is looking for a responsible and experienced partner to accelerate the development, construction, and operation of the wind farm.

The enterprise will invite both domestic and international investors into the selection process. The offshore wind power project is estimated to reach commercial operation in 2028 at the earliest.

The selected partner, a company or a consortium, is required to demonstrate the necessary know-how, resources and experience in the successful development, construction and operation of offshore wind power projects with a considerable investment value and scale, the manager of Finlands land and water areas said.

The selected partner is required to represent responsible and sustainable business practices. The partner must also have the ability to work on a project that involves many stakeholders at different levels of Finnish society given the projects national importance to achieve the countrys renewable energy targets.

Competitive Bidding

The selection of a partner for the project will be realised through a competitive bidding process. After the indicative bid submission, a shortlist of potential parties will be invited to continue in the process and submit a binding offer, following which a preferred bidder will be selected. The project will comply with the EUs sustainable funding criteria and tendering procedures.

Metshallitus goal is to complete the selection of a partner during 2022. Information on the parties or bids participating in the auction process is not public and no additional information will be provided on the progress of the process.

The Korsns offshore wind farm is being planned in the states territorial waters located some 15 30 kilometres from the coast. This will be one of the first large-scale offshore wind farms in Finland.

The estimated capacity of the wind farm corresponds to about half of Finlands current wind power capacity at the end of 2020.

Metshallitus will act as a project developer in the project and will remain as the lessor of the offshore wind farm post-exit. Ownership of the area will remain with the state.

More:

Finland Starts Partner Selection Process for 1.3 GW Offshore Wind Project | Offshore Wind - Offshore WIND