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finland’s-wind-power-capacity-shot-up-75%-in-2022,-attracting-billions-in-capital

Finland’s wind power capacity shot up 75% in 2022, attracting billions in capital

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Finland’s wind power capacity shot up 75% in 2022, attracting billions in capital

Ioanna Lykiardopoulou

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Ioanna Lykiardopoulou

Ioanna is a writer at SHIFT. She likes the transition from old to modern, and she’s all about shifting perspectives. Ioanna is a writer at SHIFT. She likes the transition from old to modern, and she’s all about shifting perspectives.

Finland clocked a 75% increase in wind power capacity last year, boosting the country’s renewable energy cred.

According to the latest statistics from the Finnish Wind Power Association (FWPA), 2022 was a record time for green power. Specifically, 437 new wind turbines were put into operation, delivering a 2,430MW power capacity. What’s more, wind power covered 14.1% of the country’s electricity consumption, rising from 9.3% in 2021, a period in which 141 turbines were installed.

As a result, Finland now has a total of 1,393 wind turbines with a combined power of 5,677MW — raised by nearly 43% in 2022 alone. Some 47% of the total wind power is domestically owned, and the majority of turbines have between 3 and 4.99MW power capacity.

Notably, the projects completed last year brought over €2.9 billion worth of investments into the country. This makes wind power one of the most funded sectors in the Nordic nation.

Finland wind power 2022

“No other industry currently brings as many annual investment euros to Finland as wind power. Wind power also brings vitality to many small municipalities, where investment targets may otherwise be few,” Anni Mikkonen, FWPA’s CEO, noted.

“In addition to investments, wind power is now increasing our country’s energy self-sufficiency at a really good pace — just when new and affordable electricity production is most needed. No other electricity generation can be built in Finland as quickly and as cost-effectively right now,” she added.

According to FWPA, the future of Finnish wind energy is looking brighter and brighter. Approximately 1,000MW of power capacity will be completed this year, over 1,200MW in 2024, and around 1,000MW in 2025 — when wind power is projected to cover at least 28% of Finland’s electricity consumption.

If this pace is kept, the country will not only strengthen its energy efficiency, but also increase its competitive advantage in the industry — in effect, attracting more capital in its wind projects and promoting local companies active in the field.

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UK pumps cold cash into green freight with new £7M tech fund

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UK pumps cold cash into green freight with new £7M tech fund

Ioanna Lykiardopoulou

Story by

Ioanna Lykiardopoulou

Ioanna is a writer at SHIFT. She likes the transition from old to modern, and she’s all about shifting perspectives. Ioanna is a writer at SHIFT. She likes the transition from old to modern, and she’s all about shifting perspectives.

On Monday, the UK government launched a £7M tech fund aiming to decarbonize the freight industry and improve transport links.

Over the course of three years, the Freight Innovation Fund (FIF) will go to up to 36 SMEs to develop innovative technologies that can make industrial transport more “efficient,” “resilient,” and “greener.”

“Each year in the UK, we transport 1.6 billion tonnes of freight using many different modes of transport, and it has never been quicker or easier,” Nicola Yates OBE, CEO at Connected Places Catapult — the government’s innovation accelerator — said in the associated press release. “The freight sector makes a huge contribution to our economy and contributes significantly to domestic carbon emissions,” she added.

The fund will support the development of ideas and respective technology which will mainly address three persistent issues in the freight sector:

  1. The lack of large-scale, cross-industry data collection and sharing between different modes of freight transport (such as road, rail, and maritime) that could boost efficiency and coordination.
  2. Issues in intermodal transport and ways to improve the division of large shipments into smaller ones, which could reduce emissions and traffic.
  3. Upgrades in freight distribution in ports across different transport modes that could have a positive ripple effect on the predictability, scheduling, and efficiency of journeys.

The FIF will be delivered to SMEs by Delivered by Connected Places Catapult, allowing them access to technical and business support from the organization.

The selected SMEs will also benefit from a freight innovation fund accelerator, which will provide support to innovators and help them access private investment, as well as from a freight innovation cluster — a community of innovators within the sector that organizes networking events and activities.

“Our freight industry is vital to underpinning the economy and keeps Britain moving, so it is crucial we invest in new innovations to make it greener and quicker, Roads Minister Richard Holden noted. “This fund will accelerate new ideas and technologies, helping to develop a future pipeline of innovations that can be rolled out to create jobs and allow everyone to get their goods faster and easier.”

UK pumps cold cash into green freight with new £7M tech fund Read More »

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Wind, solar, and hydrogen: How energy will get more sustainable in 2023

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Both the EU’s ambitious 2030 climate target and the current energy crisis have highlighted the need to accelerate the transition to renewable energy.

And while wind, solar, and green hydrogen are already on the rise, there are still important steps to be taken the coming year to increase their sustainability — and improve what they’re capable of.

To find out how this will work, TNW spoke with three experts.

Wind power

Floating offshore wind is a “game changer” for the renewable energy industry and a “key technology” against climate change, Felipe Cornago — Commercial Director Offshore Wind, at BayWa r.e. — told us.

That’s because it has the potential not only to take advantage of areas with higher wind intensity, but also to open up markets previously incompatible with bottom-fixed technologies.

Compared to fixed installations, floating offshore wind farms also come with reduced environmental impact in maritime ecosystems, as well lower construction costs.

Floating wind offshore farm Norway
Illustration of the Hywind Tampen, Norway’s floating offshore wind far. Credit: Equinor

But despite accelerated development in recent years, as Cornago noted, there are still numerous challenges to be addressed.

“This is why industry and government efforts in 2023 should focus on a number of areas, including the establishment of clear regulatory frameworks as well as improving grid connection and grid planning,” he explained.

As per Cornago, focus should also be placed on the standardization of technological and commercial solutions. Currently, there’s a gamut of different designs and manufacturing methods, all of which drives costs up.

Finally, he believes that the lack of expertise in developing floating offshore wind platforms will start being mitigated in the coming year. This will be done “by tapping into pre-existing infrastructure and knowledge from the development of bottom-fixed offshore wind,” as well as “adapting existing supply chains.”

Solar

According to Frank Jessel — Global Director of Solar Trade at BayWa r.e. — 2022 has seen a rapid expansion in the adoption of solar photovoltaic (PV) systems and their accompanying energy storage solutions.

solar panels

Jessel expects this trend to continue in 2023 “with the endorsement of renewables within the residential and commercial PV market higher than ever, and the price of PV systems in particular falling mid-term due to technological improvements, decreasing freight prices, and economies of scale.”

However, there are still challenges that hinder accelerated growth and require solutions, he added. These are disruptions in supply chains and a shortage of skilled workers regarding the installation of PV systems.

Green hydrogen

Green hydrogen, powered by renewable sources such as wind and solar, is a clean and promising alternative to fossil fuels.

But for the industry to achieve efficient production, it’s necessary to recognize the vital role of digitalization, David Hall, VP Power Systems at Schneider Electric UK & Ireland, told TNW.

“The challenges in the scaled production of green hydrogen can be addressed largely by using new digital technologies available today,” he explained.

For starters, digital twin technology and 3D modeling allows the simulation of data throughout the entire lifecycle of a green hydrogen plant, reducing costs, risks, and time.

Secondly, Hall highlighted the importance of an “overarching” Energy Management System that will indicate the optimal times to use electricity from the grid and forecast power generation, to ensure hydrogen’s required volume production on a low-cost basis.

Finally, he noted the need for a Unified Operating Center. This translates to the use of a Pi system — a software that collects and analyzes operational data — that can bring together all the different assets to allow for better decision making, optimal performance, and reduced downtime.

green hydrogen Iberdrola
Iberdrola will invest €17 million in a green hydrogen facility to supply energy to vehicles and machinery at the port of Felixtowe in the UK. Credit: Iberdrola

Facilitating the faster adoption of wind, solar, and green hydrogen requires our efforts beyond 2023, but starting to apply some of the above measures definitely marks a significant start.

Wind, solar, and hydrogen: How energy will get more sustainable in 2023 Read More »

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The UK counts down to its first ever orbital satellite launch

Next Featured, Tech / /
The UK counts down to its first ever orbital satellite launch

Ioanna Lykiardopoulou

Story by

Ioanna Lykiardopoulou

Ioanna is a writer at SHIFT. She likes the transition from old to modern, and she’s all about shifting perspectives. Ioanna is a writer at SHIFT. She likes the transition from old to modern, and she’s all about shifting perspectives.

The first ever orbital satellite launch from the UK — and Europe — is set for takeoff tonight (Monday, January 9). The so-called “Start Me UP” mission, led by US-based Virgin Orbit, will set out from Spaceport Cornwall at Newquay Airport at around 21: 15 UTC.

You can watch the launch via Virgin Orbit’s livestream below: