Hannes Snellman Contributed Finnish Chapter to the Orrick Global Offshore Wind Report 2025

Hannes Snellman has contributed a chapter on Finland to the Orrick Global Offshore Wind Report 2025, covering the outlook on offshore wind in key jurisdictions globally in 2025. Together with Orrick, Tapio Teräkivi, Maria Landtman, Klaus Metsä-Simola, and Katja Heikkinen from our Real Assets Team have provided an insight into the status of offshore wind in Finland and the opportunities and challenges that lie ahead in this sector.

Here are some key takeaways from the chapter:

• Regulatory Advancement in the Exclusive Economic Zone (EEZ): New legislation for offshore wind in the EEZ aims to create a predictable and encouraging environment with a clear regulative framework for granting exclusivity for offshore wind development in the EEZ. The areas are selected by the Finnish Government, and tendering processes will be held, allowing the winner to apply for an exploitation permit. The decision on the first areas selected for tendering is anticipated in the autumn, with the first round of competitive tendering in the EEZ to possibly commence by the end of 2025.

• Permitting and Grid Connection: Ongoing legislative renewal processes aim to unify permitting and supervisory practices by streamlining the permit processes. Additionally, an initiative on amending the electricity market legislation allowing, for instance, direct connections from production facilities, such as offshore wind farms, to end-users and extending Fingrid’s connection obligation to also cover the EEZ is evolving and expected to progress in spring 2025.

• Innovative Opportunities: The growing PPA market driven by corporate demand for renewable energy, advancement of the hydrogen economy, and data centre expansion present significant offtake opportunities for offshore wind developers, with Finland's strategic location and renewable resources making it an attractive investment destination.

As we look towards 2025, the offshore wind sector faces a mix of challenges and opportunities globally. Key hurdles include persistent inflation, high financing costs, and the pressing need to upgrade grid infrastructure to efficiently distribute power generated offshore. However, the future is bright for offshore wind, driven by ambitious renewable energy growth targets and innovations.

The report is available for download here.

Hannes Snellman advises clients on a regular basis with respect to, inter alia, the permitting, construction, operation, and financing of energy projects, as well as transactions and public procurement questions that relate to energy and infrastructure projects, including offshore wind. Please contact us should you wish to discuss any related questions.