OX2 and the Bank of Aland’s mutual fund subsidiary Alandsbanken Fondbolag have initiated a feasibility study to develop a green port in Finland to support local wind projects.
The Mega Grön Hamn project will be based at the port of Langnas in Aland.
Once developed, the port will function as a node to provide construction logistics for individual wind power projects and an electrical connection to Aland.
In addition, it includes plans to produce hydrogen as a fuel for the shipping industry, for future local archipelago transport services and for industrial processes in Aland.
According to plans, the feasibility study will last for 12 months and create a better understanding of the conditions around the proposed Langnas Mega Green Port, both practical and technical, as well as financial factors.
OX2 and Alandsbanken Fondbolag are developing the Noatun North and Noatun South offshore wind power projects near Finland’s Aland archipelago in the Baltic Sea.
“Creating a Mega Green Port will bolster the Aland economy in many different ways,” said Anders Wiklund, Country Manager Aland at OX2.
“In addition to being an important part of the offshore wind power projects, it will generate jobs and produce e-fuel for the shipping industry − making Aland attractive for the establishment of large business operations and enabling many new innovative projects in oxygenation of waterways and utilisation of excess heat in various manufacturing activities. The port will strengthen Aland’s potential to become the leading green hub in the Nordic region.”
Peter Wiklof, Manager Director and Chief Executive of the Bank of Åland, added: “The purpose of our planned wind power projects is green energy transition and enabling the general public to participate via our mutual fund structure − but perhaps, above all, to create a new growth engine for the Aland business sector.
“The feasibility study for Langnas as a Mega Green Port is an important step in understanding how Langnas can play a key role in the future of the Aland business community, especially with reference to the growth of existing Aland companies and the establishment of new business operations.”