Wednesday, May 29, 2024

Hexicon, Aker Offshore Wind’s new JV to develop floating wind offshore Sweden

Aker Offshore Wind and Hexicon, a floating offshore wind power engineering company, have established a new 50-50 joint venture to develop floating wind offshore in Sweden. The two companies have appointed former Swedish Finance Minister Pär Nuder and former Vattenfall executive Mikael Kramer to the Board of Directors, with the remaining four members of the board being representatives from Aker Offshore and Hexicon.

Sweden has set out to meet 100% of its electricity needs from renewable sources by 2040 and to achieve carbon neutrality by 2045. With these plans, the partners see a clear opportunity for offshore wind projects as the market develops.

Aker Offshore Wind and Hexicon together bring unique capabilities and experience. Aker Offshore Wind brings to the project its learnings and know-how from five decades of planning, designing, and executing offshore projects in the North Sea and elsewhere globally. The company has core expertise in project planning and execution methodology, technology know-how, and fabrication competencies to scale and industrialize offshore wind in a sustainable way.

Founded in 2009, Stockholm-based Hexicon has an experienced team that is developing floating offshore wind projects with other established industry partners in countries such as South Korea and Scotland. Offshore wind in Sweden is an early-stage market with large potential, and Hexicon is the only dedicated floating wind developer in the domestic market.

Sweden is an attractive market for offshore wind and has set a target to reach ‘net zero’ greenhouse gas emissions by 2045. Our projects have the potential to provide a stable and clean energy generation long term, which benefits both Swedish industry and Swedish consumers,said Marcus Thor, Chief Executive Officer of Hexicon.

Another joint venture between Shell and CoensHexicon, which is yet another joint venture between Hexicon, aims to fund, develop, and operate MunmuBaram, a 1.4-gigawatt floating offshore wind farm for South Korea.