Ranua's Green Energy and Bio-Product Ecosystem Investment Path
– project
(VIBE Project)
Background and Need for the Project
Ranua has significant resources in renewable energy, biomass, and other natural resources, as well as several green transition investments currently in the planning or implementation stages. At present, energy products and wood biomass are also transported outside the municipality for further processing. The VIBE project aims to identify opportunities to increase the utilization and added value of raw materials, energy flows, and by-products in Ranua, as well as to create a systematic foundation for new investments in the energy and bioproducts sectors.
Target Audience and Objectives
The project’s key target groups include companies operating in Ranua and those potentially relocating to the area, as well as research institutions, educational institutions, and other stakeholders. Other companies, landowners, and residents in the area will also benefit indirectly from the project.
The goal of the project is to generate information on various development options for green energy and bioproducts and their impacts, to draw up a long-term investment roadmap for Ranua’s green energy and bioproducts ecosystem, and to raise awareness of the region’s businessand investment opportunities in the region to companies and investors.
Project Activities
Work Package 1 —Data Generation—will examine Ranua’s future energy needs, alternative energy sources, and opportunities to utilize new forms of green energy, biomass, and production by-products. In addition, the study will assess the impacts of new production on the regional economy, employment, and greenhouse gas emissions, and will draw on the experiences of domestic and European energy and circular economy ecosystems.
In Work Package 2— Investment Path—3–4 alternative investment scenarios for different time horizons will be developed based on the information gathered. Based on these, Ranua’s investment path will be formulated, the municipality’s responsibilities in facilitating investments will be defined, and packages presenting location and business opportunities for companies in the energy and bioproducts sectors will be prepared.
Work Package 3 —Building Awareness—will develop a vision for Ranua’s green energy and bioproducts ecosystem, establish collaboration networks, and communicate the region’s opportunities to businesses, investors, and other target groups. Key information generated by the project will be published on the Business Ranua website, and essential materials will also be produced in English.
Project Outputs and Utilization
A concrete outcome of the project will be a development plan for Ranua’s green energy and bioproducts ecosystem—that is, an investment roadmap. It will include a vision, investment scenarios, packages tailored to companies in the energy and bioproducts sectors, and an operational model for the ecosystem’s further development.
Following the project, the municipality of Ranua will utilize the investment pathway to support the long-term development of green energy and bio-production, attract new businesses and investments, and promote collaboration among businesses. The results will also serve as the basis for a Master Plan to be developed at a later date, guiding the planning of future projects, services, and infrastructure.
Implementation Period and Funding
The VIBE project will run from October 1, 2026, to April 30, 2027. The project is being implemented by Business Ranua, the economic development unit of the municipality of Ranua.
The approved total budget for the project is 62,058 euros. The project is co-financed by the European Union. The project has been granted a total of up to 49,646 euros in support from the European Regional Development Fund (ERDF) and the state, which covers 80 percent of the eligible costs. The ERDF’s share of the funding is a maximum of 29,788 euros. The Municipality of Ranua’s own contribution is 12,412 euros, or 20 percent.
