Swedish Gov't Grants OX2 Permission for 400 MW Offshore Wind Project

May 16, 2023

Swedish Gov't Grants OX2 Permission for 400 MW Offshore Wind Project
Credit: Global Image Archive

OX2 said Tuesday it had received permission from the Swedish government to build the northern part of the offshore wind project Galatea-Galene on the west coast of Sweden, with a potential capacity of 400 MW. 

The total project Galatea-Galene comprised 1.7 GW. 

"It is very positive that the government takes the initiative to build out 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, says Paul Stormoen, CEO, OX2. 

Besides Galatea-Galene, OX2 is developing two more offshore projects in Sweden that are to be decided by the government: Triton, south of Sweden (1.7 GW) and Aurora between the islands of Öland and Gotland (5.5 GW). 

Last year OX2 sold 49 percent of the three Swedish offshore wind projects to Ingka Investments. Following the agreement with Ingka Investments OX2 will receive about 1 MSEK per MW for the 49 percent of the planned total capacity once all permits have been received and the parties have decided to continue the realization of the projects.

"Sweden is one of the countries in Europe with the best conditions for offshore wind power. We have more projects waiting for decision by the government and look forward to being part of a build out that will benefit consumers as well as business and industry in Sweden, says Peter van der Poel, CEO, Ingka Investments. 

OX2 also develops offshore wind projects outside of Åland with a potential capacity of more than 5 GW, and in Finland with a potential capacity of 6 GW. OX2 recently announced a sale of 49 percent of the Finnish projects to Ingka Investments.

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