Sweden's OX2 plans 1.4-GW offshore wind farm in Finnish waters

Swedish renewables developer OX2 AB (STO:OX2) on Friday said it has started developing a project that calls for the installation of a 1.4-GW offshore wind farm in the Gulf of Bothnia, in the Finnish economic zone.

Dubbed Tyrsky, the wind farm is set to be located southwest of the city of Vaasa, off the western coast of Finland, consisting of around 100 turbine generators. OX2 expects the complex to produce about 6 TWh annually once it goes online, which will occur around 2030.

The Stockholm-based developer will now work on the project’s development and then move to its Environmental Impact Assessment (EIA). Last year, it was granted a research permit for the scheme by the Finnish government. The whole licensing period, according to OX2’s estimates, will take about four years to complete.

The Tyrsky wind farm will add to OX2’s portfolio of two offshore wind projects in Finnish waters – Laine and Halla – both in the Gulf of Bothnia. The developer is also working on several offshore wind schemes off Sweden, with its total offshore wind pipeline standing at 18.3 GW as of end-September 2022.

“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,“ said Paul Stormoen, CEO of OX2.

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