Tuesday, July 2, 2013

Finnish wind power attracts major investment from PROKON

Guaranteed feed-in tariff makes Finland an attractive investment location for wind power companies.
Finland’s growing wind power sector is attracting great interest especially in Germany. The German company PROKON is planning to invest EUR 500 million in the first phase of the Kattiharju wind park located in western Finland. The German companies WPD and Abowind are also expected to enter the Finnish market soon.
PROKON has also made an order worth EUR 50 million for 100 direct-drive 3 MW permanent magnet generator (PMG) and full-power converter (FPC) drive trains from the Finnish company The Switch. Together with repeat agreements from China, the total order value The Switch received during June this year is over EUR 100 million, resulting in the largest order backlog in the company’s history.
Attractive feed-in tariff
It is estimated that in the future, the Finnish wind power sector may attract up to EUR 4 billion in investments. Finland is viewed as an especially attractive investment location because of a feed-in tariff that can guarantee a minimum 10% return on investments in wind power production. The Finnish government is supporting the development of wind power with about EUR 200 million over the next few years.
According to Ralf Dohmann, Managing Director of PROKON Regenerative Energien GmbH, the cooperation with The Switch will provide PROKON’s wind parks in Finland with the latest PMG-based technology that features minimum maintenance requirements to ensure the highest annual energy production level and quality of electricity. PROKON has installed 296 wind turbines at 49 wind parks in Germany and Poland.