OX2 has received permission to build a 400MW offshore wind farm off the west coast of Sweden.
The Swedish Government has awarded OX2 a permit to build the northern part of the project Galatea-Galene.
In total the Galatea-Galene project comprises 1.7GW.
Besides Galatea-Galene OX2 is developing two more offshore projects in Sweden that are to be decided by the government.
The projects are Triton, south of Sweden (1.7GW), and Aurora between the islands of Öland and Gotland (5.5GW).
Last year OX2 sold 49% of the three Swedish offshore wind projects to Ingka Investments.
Following the agreement with Ingka Investments OX2 will receive about Skr1m/MW (€89,000/MW) for the 49% of the planned total capacity once all permits have been received and the parties have decided to continue with the projects’ development.
“It is very positive that the government takes initiative to build out the offshore wind power in Sweden.
“We look forward to a constructive discussion on how the projects can be realized in the fastest and most cost-efficient way to secure that Sweden can have a considerable addition of emissions-free electricity by 2029,” said OX2 chief executive Paul Stormoen.
OX2 is also developing offshore wind projects outside of Åland with a potential capacity of more than 5GW, and in Finland with a potential capacity of 6GW and recently announced a sale of 49% of the Finnish projects to Ingka Investments.