The objective of EPV Wind’s business activities is to increase the share of emission-free energy generation in the Group.
The intensive investment stage of EPV Energy’s wind power programme was completed in 2017. Within this programme, a total of 82 power plants have been built, corresponding to a capacity of almost 300 MW. Wind farms generate more than 800 GWh of electricity from wind power a year. The share of wind power in the Group’s total electricity procurement was approximately 11% at the end of 2017.
The major project of Metsälä in Kristinestad and the two wind power plants in Paskoonharju, Teuva were completed and began commercial generation. The advances made in wind power technology and the new generation turbines considerably improved production efficiency. The advancements in technology have made wind power in many respects the most inexpensive method of generating electrical energy. The potential realisation of non-subsidised investments in future will substantially depend on the balance between supply and demand and the overall level of prices in the electricity markets, as well as the price of the balancing capacity required by wind power.
Metsälä and Teuva wind power farms completed
The construction of EPV Energy’s Metsälä wind power farm progressed according to plan. The transport of the power plant parts from Vaasa Port began in May and the erection of the power plants was started in June. The commercial production of the wind power farm started at the beginning of 2018. The commissioning work, testing and fine-tuning will continue into the first part of 2018 according to the original plan. When completed, the Metsälä wind power farm will be the largest project in the country in terms of capacity compared to all the projects implemented as one-off investments.
Advancements in technology have impacts on the profitability of wind power
The first stage of the Paskoonharju wind power farm was also completed in 2017 and the farm began production at the turn of the year. Two wind power plants were erected during this first stage, but a total of 23 wind power plants have been zoned for the area.
Over the year, the company has made considerable investments in the development of its wind power farms’ operations and supervision. In practice, this means that the power plants are continuously monitored to ensure their safety and productivity.
Another giant leap in technological development
Over the year, significant advances have been made in wind power technology. Several world-leading technology manufacturers have introduced larger and larger and more and more efficient turbines, with rotor diameters of more than 150 metres. The hub heights of power plants have also increased, which is why EPV Energy has implemented a raising programme at the wind power farms of Rajavuori in Laihia, Norrskogen in Närpes and Paskoonharju in Teuva. The power plants’ hub heights have been adjusted to the extent permitted by local master plans in order to match the developments brought about by new technology.
With the advancements in technology, and as new power plants have reached the serial production phase, the cost-effectiveness of energy generation by wind power has improved, thanks to improved technology and the growing size of power plants. The direction the profitability of wind power will take in future, however, depends largely also on the electricity markets’ capacity situation, as well as on the functionality and price level of the balancing power market.
Offshore wind power technology has also seen intense advancements. In future, technological developments will reduce the production costs of offshore wind power plants as well, but it is not yet entirely clear how competitive offshore wind energy will be in northern sea areas which are susceptible to freezing.
Development projects to bring profits in future
We are constantly developing our wind power generation
EPV Energy has several development projects in the field of wind power, the most advanced of which are the Rajavuori project in Laihia, the Norrskogen project in Närpes and the Paskoonharju project in Teuva, all of which have building permits. The largest project currently is Maaninka in Kuusamo, which has more than 50 turbines and is currently at the land use planning stage.