Swedish wind energy development company OX2, and investment company Landsbanken Fondbolage, are developing two of the world’s largest offshore wind projects, in the Baltic Sea.
The new projects indicate that the largest Swedish wind developer believes that the giant wind turbines in the sea will have a brilliant future, after 20 years of building wind farms on land, according to Sky News.
They are betting a lot on wind energy, but they haven’t stopped developing onshore or solar energy, said Paul Stormoen, CEO of the company, adding that this is all part of the next generation of energy systems that will have different sources working on their availability.
The energy crisis has increased Europe’s focus on developing domestic energy sources, with a focus on renewable energy, in order to reach its carbon emission reduction targets.
Two wind energy projects in the Baltic Sea
The total capacity of the Nuaton Seed and Nuaton Nord projects is 9,000 megawatts, at a cost of more than 20 billion euros, or $ 19.6 billion, according to Stormoen.
The CEO of the company added that the final decision on the implementation of the two projects will be made sometime between 2025 and 2026.