The EIB financing will support Fingrid’s investment programme, which aims to rehabilitate and develop the electricity transmission network that stretches throughout all of Finland.
The addition of a new line to the north-south interconnector will enable new wind energy – planned in the north of the country – to reach load centres in the south. Refurbishment of lines and substations will replace infrastructure at the end of its lifetime with more efficient and modernised equipment, adapted to current consumption volumes.
“As shown by recent investments, the Finnish energy sector is high on the EIB’s agenda. Whether it’s about future-proofing networks or adapting them to extreme weather conditions, this is the kind of large infrastructure that the EIB has been financing for decades. The simple fact that our electricity consumption continues to increase, means that we must make sure that our networks can handle that. I’m happy that Fingrid is thinking ahead also for the integration of more renewable energy into the grid, something we wholeheartedly support,” said EIB Vice-President Alexander Stubb.
Fingrid Oyj takes care of the functioning of the nation-wide high-voltage grid, the backbone of electricity transmission.
Original source: EIB
Published on 07 February 2019
