Finland is gearing up to launch an auction for five offshore wind power sites, signaling the potential deployment of up to 500 turbines in the country's public water areas, according to a government announcement on Thursday.

The planned auction will encompass approximately 860 square kilometers of surface area across the five offshore wind power sites, with a calculated maximum capacity of around 7,500 megawatts. The government has entrusted the state-owned management company responsible for land and water areas with handling the auctions and leasing the sites, situated along Finland's western coastline, to selected partners for periods of up to 50 years.

Minister of Climate and the Environment Kai Mykkänen stated, "The wind power from the sites to be auctioned is expected to increase Finland's annual electricity production by more than a third."

This initiative aligns with Finland's efforts to expand its renewable energy capacity and reduce reliance on traditional energy sources. The ambitious plan underscores the country's commitment to harnessing the vast potential of offshore wind energy to contribute significantly to its overall electricity production.

The auction process is anticipated to attract interest and investment from various stakeholders, further advancing Finland's position in the renewable energy landscape. As the nation moves forward with its offshore wind ambitions, the successful bidders will play a crucial role in shaping Finland's renewable energy future and making substantial contributions to the global transition toward cleaner and sustainable power sources.