Sweden – OX2 and Ingka Investments, the investment arm of Ingka Group, the largest IKEA retailer, have jointly submitted a permit application for the Neptunus offshore energy hub.
This ambitious project is set to redefine Sweden’s renewable energy landscape, combining offshore wind power, hydrogen production, and a pilot project to oxygenate the Baltic Sea.
The Neptunus Energy Hub is designed to feature up to 207 wind turbines, reaching a maximum height of 420 meters, strategically located about 50 kilometers off the coast of Blekinge in southern Sweden. The comprehensive permit application under Sweden’s Exclusive Economic Zone outlines a total installed capacity of 3,100 MW, with an estimated annual production of 13-15 TWh. This energy output is equivalent to the current total electricity consumption of the Blekinge and Skåne region. The proposed construction timeline suggests that if permits are secured, construction could start in 2030.
Beyond wind power
In addition to offshore wind power, the permit application encompasses plans for offshore hydrogen production, targeting a maximum annual capacity of 370,000 tonnes. The hydrogen production process generates oxygen as a byproduct, which will be utilized in a pilot project to oxygenate the Baltic Sea. This innovative approach aims to contribute to restoring marine life in areas facing oxygen deficiency.
The Neptunus project is currently in its early development phase, with 1,900 MW included in OX2’s project development portfolio. OX2 and Ingka Investments are actively involved in the development of six offshore wind farms across Sweden, including Galene, Triton, Neptunus, Aurora, Pleione, and Ran. The final permits for constructing these wind farms are granted by the government of Sweden.
