OX2 is looking to develop a 1400MW offshore wind farm in the Gulf of Bothnia in the Finnish economic zone.
Tyrsky wind farm will be located in an area southwest of Vaasa, about 30 km northwest of Kaskinen, and will comprise 100 turbines, with an annual production of about 6TWh.
The Swedish developer received a research permit for the project from the Finnish government last year and is now looking to perform an Environmental Impact Assessment.
The licensing period is estimated to take around four years and the wind farm could be in operation around 2030.
OX2 chief executive officer Paul Stormoen said: “The great shift towards hydrogen, fossil-free industries and general electrification demands huge amounts of renewable energy.
“Offshore wind farms are the fastest and most cost-effective way to build large-scale electricity production.
“I am happy to announce we have included another project in our portfolio of great projects.”
OX2 has two major offshore wind farms in Finland and is also developing offshore wind farms outside Åland and Sweden.
At the end of the third quarter last year the developer had an 18.3GW global portfolio of offshore wind projects.