Development Prospects for Bioenergy Sector Investments in Finland

Finland has long been one of Europe’s leading bioenergy economies, but the green transition is reshaping the sector’s investment environment. This study examines the development prospects of bioenergy investments in Finland by combining a descriptive analysis of the green transition project database maintained by the Confederation of Finnish Industries (EK) with a qualitative review of supplementary public sources. The analysis covers four categories: biorefinery, biogas, biocoal, and bioenergy for heat and power production. In April 2026, the database included 113 bioenergy-related projects out of 1,230 green transition projects in total, with a combined planned investment value of approximately EUR 8.1 billion. Biogas dominated in project numbers, whereas biorefineries accounted for the largest share of investment value. The results show that bioenergy investments are, on average, more advanced in the project pipeline than green transition projects overall, but their maturity differs by category. Bioenergy and biocoal projects were concentrated in the investment decision and commissioning phases, while biorefinery and biogas projects were present across all development stages. The findings indicate that Finland’s bioenergy investment landscape is becoming increasingly differentiated. Biogas continues to show relatively strong momentum, whereas conventional bioenergy investments are shifting toward modernization, hybridization, and system integration rather than new greenfield capacity.