ReportBusiness

Offshore wind in numbers

Published:28.09.2023

Ramboll Finland’s regional economic impact assessment of Ilmatar’s offshore wind energy projects Stormskär and Väderskär in Åland waters showcases substantial impacts at both regional and national levels. One of the most compelling aspects is how the economic benefits differ, depending on whether Åland authorities collaborates closely with sectors that benefit from offshore wind energy.

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Regional economic effects of Ilmatar’s Stormskär and Väderskär projects

The most substantial revenues during operation derive from the maritime industry, insurance, and maintenance, estimated between 730 million and 1.14 billion euros. In the median, the Collaboartion scenario, the regional GDP is projected to increase by 1.5% annually.

The construction phase triggers significant economic activity, granting Åland industries up to 1.1 billion euros, with a labour demand equivalent to 1,997 to 6,739 full-time positions over two to three years.

The development phase requires 347 to 522 full-time positions over seven years.

Throughout the project’s lifespan, payroll taxes estimated between 185 and 383 million euros are anticipated to be generated on Åland, with over 20% benefitting the municipalities.

The project is based on two parks, Stormskär and Väderskär

Area: 571 km²

Turbines: 123 units, 20 MW each

Total capacity: 2460 MW

Infrastructure costs: up to 10 billion euros

Operational costs: 100-150 million euros/year

Production: 10 TWh/year, selling at 45-55 euros/MWh