One of the biggest international goals is to phase out fossil energy. That’s why it was interesting to note that 95 percent of Finland’s electricity production was based on fossil-free energy sources in 2024 — including nuclear, wind, hydro, and solar power, as well as renewable fuels.
Last year also marked a milestone: wind power surpassed hydropower to become the second largest source of electricity production. The only larger source is nuclear energy, which accounted for 38 percent of Finland’s electricity supply.
This development is not only excellent for climate action but also because fossil-free energy gives a competitive edge to investments that consume a lot of energy. For this reason, Finland is expected to attract a wide range of international investments in the coming years — from various data centers to fossil-free hydrogen production.
If and when these future promises are fulfilled, Finns will have reason to expect the national economy to finally embark on a path of growth. At the same time, Finland’s public finances could move toward balance — especially since the Finnish government has promised to implement reforms that support economic growth over the next two years.
