Finnish government lifts biofuel targets

HELSINKI, Nov 24 (Reuters) - Finland’s centre-right government said on Thursday it planned to lift the share of biofuels blended in transport fuel to 30 percent by 2030 to help meet the country’s emissions reduction targets.

The biofuels will mostly fall into the EU’s “double-counting” counting, as they are produced from forest industry waste and residues. On that basis, the new target translates into a “double counting” share of more than 53 percent.

That compares with the government’s previous “double counting” goals of 20 percent by 2020 and 40 percent by 2030, and an EU target of 10 percent by 2020.

The government also confirmed its plans to halve the use of imported oil for domestic needs, ban the use of coal in power generation and increase the use of electric cars to 10 percent of the country’s vehicles by 2030.

Paper maker UPM-Kymmene has recently started the world’s first plant in commercial use to make biofuel from crude tall oil, a residue of pulp production.

China’s Sunshine Kaidi New Energy Group and Nordic energy company St1 are also planning investments to make biofuel from sawdust and other wood residues. (Reporting by Jussi Rosendahl; Editing by Mark Potter)