OX2 and Ingka Investments have applied to build Neptunus, a 3.1 GW offshore energy hub off Blekinge, Sweden. Located 50 km offshore, the Neptunus offshore wind project will be a major energy hub, with 207 wind turbines reaching heights of 420 m. The project will cover the needs of the Skåne and Blekinge districts by producing 13–15 TWh of power annually. Beyond wind energy, OX2 and Ingka Investments hope to produce 370,000 tonnes of offshore hydrogen annually as part of the Neptunus project. A pilot project has also been proposed to oxygenate the Baltic Sea using oxygen, a byproduct of hydrogen synthesis.
The project is in the early stages of development. Of its total capacity of 3.1 GW, 1.9 GW falls under OX2’s project development portfolio, which totalled 34 GW by the end of the third quarter of 2023. OX2 and Ingka Investments have previously submitted applications for the development of six offshore wind projects in Sweden: Galene on the west coast, Triton and Neptunus in the south, Aurora between the islands of Öland and Gotland, and Pleione and Ran off the east coast of Gotland.
In April 2023, OX2 purchased the rights to a 475 MW solar project in Huittinen, Finland, from SAJM. OX2 will place the project, one of the largest in the country, in the mid-stage of its development portfolio for the second quarter of 2023. The project’s environmental impact study and permits have yet to be submitted.
REGlobal’s Views: Offshore wind deployment along with green hydrogen generation is taking centerstage in Europe’s energy strategy as the continent moves towards reducing reliance on fossil fuels. In this regard, energy islands are gaining importance. These projects will generate massive volumes of clean offshore wind power as well as green hydrogen which can be transported to European countries via transmission lines and pipelines respectively.
