Swedish wind energy development company OX2 and investment firm Ålandsbanken Fondbolag Ab are developing two offshore wind energy projects in the Baltic Sea, which together will be the largest in the world.
The total capacity of the Noatun Seed and Noatun Nord projects is 9,000 megawatts, at a cost of more than 20 billion euros ($19.6 billion).
The projects will be conducted via a joint venture in which OX2 is the developer until the completed project and Ålandsbanken Fondbolag is a long-term partner via a fund that at the same time gives the public an opportunity to invest in the projects. The final decision to implement the two projects will be made sometime between 2025 and 2026.
