Recent Developments
•At the beginning of 2019, Finland approved one of the highest renewable energy share targets in the European Union 28 member states (EU-28) at 30%. It also approved a 10% target for advanced biofuels. We expect that it will drive hydrotreated vegetable oil (HVO) demand rather than bioethanol
•Finland has one of the highest shares of the RON 98 in the EU-28 at 32.6%. It operates as the protection grade to RON 95 E10
•On June 16, 2023, the new Finnish government published its plans to lower the biofuel mandate in 2024 to 2027, compared to currently enforced mandates. Please refer to on ‘Ethanol mandate’ for more detailed information