Market areas

Clean Energy

Wind power is expected to grow strongly in Finland and other Nordic countries during the current decade. In 2020, there were approximately 800 wind turbines in operation in Finland, with a production capacity of approximately 7.8 TWh. The realistic annual volume of wind production in Finland in 2030 is expected to be around 25–30 TWh.[1]

The European Commission’s and Finland’s carbon neutrality targets for 2035 support stable growth. The economy becoming more active and increased electrification will also contribute to the growth of wind power. Wind power is becoming the cheapest form of energy production on the market, which will accelerate the implementation of wind projects. Electricity is still imported to Finland, and imports account for more than 20 per cent of the electricity demand.

The increase in wind power capacity to be implemented on the land area will form the largest investment package for Finnish industry by the end of the decade.

According to the Finnish Wind Power Association, the market for wind power in the coming years will be EUR 1–1.5 billion, which corresponds to 150–250 power plants. Similarly, in Sweden, for example, there are 200–300 power plants implemented per year (market: SEK 15–20 billion).

In 2020, solar-power-based energy production was approximately 0.3 TWh. According to the forecast, the production of solar electricity will be around 3 TWh per year in 2030.[2] A large part of the solar power is currently produced with small solar power units. As technology evolves, it is estimated that significant increases in production capacity will also be achieved in Finland with significantly larger solar power plants. Internationally, electricity produced with solar power is one of the fastest growing forms of energy production.[3]

During this decade, nuclear-power-related investments worth billions in Finland will focus mainly on the construction of the Hanhikivi 1 nuclear power plant in Pyhäjoki. The start of the construction phase of the Hanhikivi 1 nuclear power plant project will bring significant growth potential and strengthen competence in the field of nuclear energy, which is representative of carbon-neutral energy production, internationally.

The energy storage market is still taking shape, and reliable data on the size of the market and trends is not yet available. In any case, the investment needs are significant. Many different technologies are emerging to support carbon-neutral solutions. For example, energy storage solutions based on hydrogen and battery technology have identified significant growth opportunities.

Clean Water

For a long time, Finland has been one of the leading countries in water technology and responsible water treatment. As the requirements governing water treatment become stricter, more sophisticated solutions and technologies are needed to achieve, among other things, more efficient waste water treatment. At the same time, the infrastructure used for water purification is coming to the end of its life. This creates the need for the development and implementation of hydraulic engineering.

The investment needs related to water management in Finland are estimated to be EUR 777 million per year until 2040. The total investment needs are therefore estimated to almost double compared to the current situation. Legislative developments could, to the extent indicated, further increase the need for investment by 10% per year.

Specialised Construction

Carbon-free energy production, clean drinking water, clean waterways, and biodiversity are topical challenges for industry and society at large. Urbanisation, global warming, the ageing of existing infrastructure and changes in the age structure of the population will have an impact on construction.

Industrial investments in Finland have been around EUR 7 billion per year.  A significant part of the investments focuses on the impact industrial restructuring has on the implementation of investment projects that contribute to carbon neutrality. We expect a steady increase in the level of investments that promote carbon neutrality. The estimate is based on the targets published by companies and set by society to reduce CO2 emissions in society at large.

Demand is also driven by urbanisation, high construction maintenance backlogs and public sector recovery programmes. Urbanisation increases the need for infrastructure construction, and urban migration is expected to continue, with the resulting concentration of infrastructure construction in urban centres also expected to continue. The effects of urbanisation will also increase the growth of investments in demanding specialised construction.

International Construction

 The focus of Skarta’s international business is primarily on developing and implementing projects that promote a carbon-neutral society and are related to the implementation of clean energy. At the moment, the main focus of international activities is on the Norrbotten region in Northern Sweden.

Growth in the Swedish industrial and infrastructure construction market has been strong in recent years, and the market has grown by around 4 per cent annually in volume terms between 2018 and 2020. In the market area of Skarta AB (Norrbotten), the growth in the market for infrastructure and industrial construction for specialised construction is even higher than the Swedish average.[4]For example, according to the investment needs published by LKAB, the planned investments in the carbon-free industry in Northern Sweden amount to more than SEK 400 billion.

Skarta is strengthening its position in the Swedish wind power market, seeking the position of a major operator by utilising the know-how acquired in the implementation of wind power projects in Finland.


[1] Source: Finnish Wind Power Association

[2] Source: Finnish Wind Power Association, examination 2020

[3] Source:

[4] Source: SVT Nyheter 23 November 2020 “400 miljarder satsas av LKAB – Sveriges största industrisatsning någonsin” and Kauppalehti 23 November 2020 and