OX2 developing 1.9-GW offshore wind, hydrogen hub in Sweden

Swedish renewables developer OX2 AB (STO:OX2) said Friday it has started developing a 1.9-GW offshore energy hub that will produce both electricity and hydrogen in the Baltic Sea, off the coast of southern Sweden.

Located about 50 km (31 miles) off the shores of Blekinge county, the hub, called Neptunus, will include offshore wind turbines and hydrogen production facilities. The project is estimated to be able to deliver 8 TWh of electricity a year, which corresponds to about 5% of Sweden’s current electricity demand, the company said. It could provide up to 225,000 tonnes of green hydrogen per year.

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“The shift towards hydrogen, fossil-free industries and general electrification demands huge amounts of renewable energy and Neptunus is strategically located to play a key role in this transition,” said Emelie Zakrisson, head of offshore wind development Sweden at OX2.

The developer announced the project after screening and surveying the area over the past two years. It expects to submit an environmental impact assessment (EIA) this year or next, with the energy hub targeted to be in operation in the early 2030s.

OX2 has now added Neptunus to its project development portfolio. The company ended 2022 with a 13.9-GW portfolio of offshore wind development projects, located in Finland and Sweden. Its total development portfolio was 28.3 GW.