Over EUR 13 million in investment aid for Skarta Energy’s solar farm to be built in Utajärvi

February 21, 2023

Press release from NYAB

The Ministry of Economic Affairs and Employment has granted Skarta Energy’s project company Utajärven Solarpark Oy EUR 13.3 million in investment aid for investment in the solar power plant in Utajärvi. The solar farm is being built on the site of a disused peat bog. The investment also includes an electricity storage, the purpose of which is to balance out the fluctuations in the farm’s production. The total investment for the first phase is about EUR 73.7 million.

The newly granted investment aid is aimed at the 100-hectare disused peat bog acquired by Skarta Energy, Tunturisuo, where an 80 MW solar farm is being planned. A 5 MW battery storage is also planned in connection with the farm. Once completed, the farm will produce about 80 GWh of renewable solar power per year. Construction is set to begin already during summer 2023, and the aim is for the solar farm to produce energy for the grid as soon as 2024.  During its construction, the solar power plant will provide about 100 man-years of employment and the power plant itself will employ about 5 people for the next 40 years.

“In September last year, we received all of the permits needed for construction, and now, only about five months later, we have a positive investment funding decision. This funding will enable the start of the first phase and it is an excellent kick-off for Skarta Energy’s extensive solar power construction. It is great that, in cooperation with Utajärvi, we can attract new labour to the municipality and thus bring some vitality to the area,” says Kari Tuominen, Managing Director of Skarta Energy.

The overall Utajärvi project contains many different projects. The overall project budget is about EUR 150 million. It includes about 200 megawatts of solar power. In addition, the overall project includes a hydrogen energy production, storage and distribution station. After completion, the entire project will produce approximately 200,000 megawatt-hours of electricity, which corresponds to the consumption needs of an average of 40,000 people.

“Utajärvi is in a good location, along good transport connections. It is wonderful to follow the investments in our area. With our industrial area, we aim to enable flexible plots of land for companies, suitable for their specific needs. Thanks to locally produced clean energy, a good location and a fantastic corporate culture, it is great to start growing Utajärvi’s company ecosystem together,” says Vuokko Paso, Managing Director of Utajärven Yrityspuisto Oy.


For further information, please contact:

Kari Tuominen
Managing Director, Skarta Energy Oy
tel. +358 40 507 1181
[email protected]

Vuokko Paso
Utajärven Yrityspuisto Oy, Managing Director
[email protected]
tel. +040 632 8805


Skarta Energy is a Finnish project development company for renewable energy. Skarta Energy’s project development is focused on solar power projects, which can be complemented with wind power construction and hydrogen solutions. The company is developing some of Finland’s largest solar power projects in, for example, disused peat bog areas in Utajärvi as well as old mining sites in Hitura and Pyhäsalmi in North Ostrobothnia. Skarta Energy is owned by strong, listed companies, with a fund managed by Capman as a specialist in finance and NYAB Oyj as an expert in energy construction.

Originally published on 20 February.

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