Recent Developments
•At the beginning of 2019, Finland approved one of the highest renewable energy share targets in the European Union (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 demand for bioethanol
•HVO is a more popular blending component than biodiesel in diesel
•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 ‘Alternative diesel mandate’ for more detailed information