The need for electricity is estimated to rise significantly when the use of fossil fuels is replaced by electricity. The green transition requires clean electricity, such as wind and solar power, but also new innovations to balance the electricity system. We develop a cleaner future and explore new opportunities that the green transition offers.
We explore new opportunities in the green transition
Wind power
Wind power is an important source of renewable, clean electricity. For us, developing wind power is a natural step towards a future where more clean energy is needed to replace fossil fuels and materials. We are planning wind power projects in both Eastern and Western Finland, mainly in land areas owned by UPM.
Solar power
Solar power is an important addition to the renewable energy mix. In Finland, solar and wind power production are mutually supportive, as solar power is most abundant in the summer, when wind power production is lower. At UPM Energy, we are now planning a solar power park for two adjacent sites in Utti, Kouvola. This is an old peat production area, which makes it an ideal environment for solar power generation.
Ultracapacitors
As the amount of renewable energy grows, so does the need for more balancing power to balance the electricity grid. Ultracapacitors are electrostatic devices that can quickly discharge or charge large amounts of energy. An ultracapacitor connected to a hydropower plant can act as the fast- reacting part, meeting power demand for the first minutes. Hydropower then takes over and continues to balance the power system. We were the first company to pilot energy storage with ultracapacitors, and the work continues.
Energy storage
Energy storage plays a pivotal role in the energy transition. It ensures reliable power supply as weather dependant energy generation increases in the grid. We explore energy storage technologies to account for the weather dependent electricity production. Developing wind and solar power provides opportunities also in co-located large-scale battery storage systems. Leveraging flexibility solutions not only supports the grid by storing excess production but also opens up new opportunities for market participation.
Hydrogen economy
We are exploring opportunities also in hydrogen economy, where we have suitable assets and expertise. Through its mills, UPM has biogenic CO2 and hands-on experience on biorefinery operations, and UPM Energy has in-depth knowledge on energy markets, emission-free electricity production and optimization. Together all this would enable growth opportunities in large-scale hydrogen solutions.