Spain will be hoping to lift their first major trophy, while Finland are dreaming about matching a memorable run to the European Championship semi-finals in 2005.
Match preview
Having reached the knockout stages in their three other European Championship appearances, Spain will be looking to keep up their impressive record of progressing from the group stage.
If they are to book their place in the knockout rounds then Jorge Vilda's side must negotiate a difficult group that features Germany, Denmark and Finland.
Although a team that is regarded as a potential tournament winner will not be content with just making it to the quarter-final stages, which is where they have exited in the last two Euros.
Spain enter the European Championships in fine form after avoiding defeat in each of their last 23 games, with 19 of those matches ending in victory.
However, their chances of European glory have been dealt a major blow on the eve of the tournament after the current Ballon d'Or holder Alexia Putellas suffered an anterior cruciate ligament injury in training on Tuesday.
Like their opponents, Finland are also set to make a fourth appearance at the European Championships after enjoying an unbeaten qualifying campaign to top their group.
Despite winning seven of their eight qualifying games, Finland will have to defy the odds to progress from a group that features three teams in the top 15 of the FIFA World rankings.
Their hopes of progressing from a difficult group will not be aided by fact that they have collected one victory in their last eight matches.
Finland lost five games in their current poor run of form, while their two warm-up fixtures which took place in June resulted in 5-1 and 2-0 defeats against Japan and Netherlands respectively.
They can at least take confidence from their last two opening European Championship fixtures, which yielded one victory and one draw.
Spain Women form (all competitions):
Finland Women form (all competitions):
Team News
After their record topscorer Jenni Hermoso was ruled out of the tournament with a knee injury last month, Spain were dealt another setback when their star player Putellas suffered an anterior cruciate ligament injury on Tuesday that will put her on the sidelines for an extended period.
Without a couple of their standout players, Spain will be looking towards the captain Irene Paredes for leadership, with the 31-year-old set to partner Mapi Leon in the centre of defence.
La Roja will be looking to get their campaign off with a positive start, and a front three of Lucia Garcia, Mariona Caldentey and Esther Gonzalez.
As for Finland, Tinja-Riikka Korpela is expected to start in goal, and the 36-year-old may will be protected by record caps holder Anna Westerlund, who is set to partner Natalia Kuikka in central defence on Friday.
Evelina Summanen and Emmi Alanen will have their work cut out against a high-quality Spain side, with the pair set to line up in the centre of midfield.
Finland will be looking towards their record goalscorer Linda Sallstrom to provide the main goal threat.
Spain Women possible starting lineup:
Panos; Battle, Paredes, Leon, Ouahabi; Bonmati, Abelleira, Guijarro; Garcia, Caldentey, Gonzalez
Finland Women possible starting lineup:
Korpela; Hyyrynen, Westerlund, Kuikka, Koivisto; Engman, Summanen, Alanen, Oling; Sallstrom, Franssi