Hexicon has reported an operating loss of just under SEK33m (€3m) for the third quarter of 2024.
This compares to a SEK27.6m (€2.4m) loss for the same period last year.
During the report period, Hexicon completed the operational takeover of the 1200MW MunmuBaram offshore wind farm in South Korea at the end of June.
In August, the South Korean authorities approved the Environmental Impact Assessment (EIA) for the MunmuBaram project, which can now participate in the country’s offtake auction.
On 10 October, the MunmuBaram project reached a significant milestone as it entered into a Transmission Service Agreement (TSA) with Korea Electric Power Corporation (KEPCO).
On 22 November, the South Korean Electricity Regulatory Commission (KOREC), approved Hexicon’s application, submitted in June to the Ministry of Trade, Industry and Energy (MOTIE) to take over the remaining shares in the MunmuBaram project.