1. OX2 AB and Ingka Investments received a permit for a 5.5-GW offshore wind project in the Baltic Sea.
2. Eiffel Investment Group purchased a stake in a 1.8-GW portfolio of renewable energy projects in Sweden.
3. OX2 and Ingka Investments are also working on an offshore energy hub called Neptunus, which includes a wind farm and hydrogen production.
A permit has been issued for the construction of a 5.5-GW offshore wind project in the Baltic Sea, developed by Sweden-based renewable energy developer OX2 AB and Ingka Investments, the investment arm of Ingka Group, the largest IKEA retailer. The Aurora project received approval from officials in Gotland, Sweden, indicating that the wind farm can be built without disrupting the environment. The project is expected to produce up to 24 TWh of electricity annually when fully operational.
In a separate development, France-based Eiffel Investment Group announced its purchase of a 50% stake in a 1.8-GW portfolio of solar, wind, and energy storage assets in Sweden being developed by Landinfra Energy. This investment supports Sweden’s ongoing efforts towards renewable energy deployment, with the projects representing a $1.6 billion investment and construction expected to begin in 2025.
Additionally, OX2 and Ingka Investments are collaborating on the Neptunus offshore energy hub in southern Sweden, which includes a 3,100-MW wind farm and plans for offshore hydrogen production and marine life restoration. Construction on this project could begin in 2030 if the current permitting timeline is followed. These initiatives highlight Sweden’s commitment to expanding renewable energy production and transitioning towards a net-zero future.