OX2, a Swedish renewable project developer, has begun construction on a 1.9 GW energy hub called Neptunus in the southern Baltic Sea. The hub, which will be situated in the Swedish economic zone, will be able to generate both electricity and hydrogen. It will include offshore wind turbines as well as equipment for converting electricity to hydrogen. Neptunus will be able to produce 8TWh of power annually, which is equal to 5 per cent of Sweden’s annual electricity consumption. It could be operational in the early 2030s.
Reportedly, over the past two years, OX2 has carried out surveys of the area selected for the development. During the winter of 2022-23, it also conducted consultations with local authorities and the public. It will compile an Environmental Impact Assessment (EIA), which will be submitted during 2023-2024. Hydrogen production also generates oxygen as a byproduct, and the Swedish firm will investigate whether this could be used to oxygenate the deeper waters of the Baltic Sea in the project area.
In January 2022, OX2 began construction on the Tyrsky offshore wind farm in the Gulf of Bothnia, near Finland. The 1.4 GW offshore project would be situated about 30 km north-west of Kaskinen in the Finnish Economic Zone, southwest of Vaasa. It would be equipped with 100 wind turbines and will be capable of producing 6 TWh of renewable energy per year.
