Eolus and Simply Blue Group have agreed to transfer the full ownership of the joint venture SeaSapphire to Eolus.
The JV, owned 50/50 by the two companies, was established in 2022 to jointly develop offshore wind projects in the Nordics, based on floating technology.
The cooperation includes schemes in Sweden and Finland. All of the sites are in early development phases.
Following a strategic review of its global project portfolio, Simply Blue has decided to withdraw from the Nordics and, under mutually agreed terms, will transfer its 50% share to Eolus in exchange for a future profit-sharing mechanism.
The completion of the transaction is subject to the approval of the Swedish Inspectorate of Strategic Products.
Simply Blue Group co-chief executive Hugh Kelly said: “As we turn our focus to other markets, we would like to wish Eolus every success in the continued development of the SeaSapphire projects.
Eolus chief executive Per Witalisson added: “We see long-term potential in offshore wind power based on floating technologies, given the expected significant increase in electricity demand over the coming decades.
“We intend to develop the projects at a pace aligned with the maturity and cost competitiveness of the floating technology.”
In addition to the above-mentioned developments, Eolus has a number of other wholly owned offshore wind schemes.
During 2023, permit applications were submitted for three of these: Västvind, outside Gothenburg, where Eolus is working in cooperation with Volvo Cars and the Port of Gothenburg; Arkona, south of Sweden, and Najaderna, outside Tierp municipality in Uppsala County.