Neptunus Energy Hub’s Fusion of Wind, Hydrogen, and Sea Restoration

OX2 and Ingka Investments, the investment branch of Ingka Group, IKEA's parent company, have unveiled an ambitious initiative to reshape Sweden's renewable energy landscape through the pioneering Neptunus offshore energy hub. Recently submitted for permits within Sweden's Exclusive Economic Zone, this groundbreaking project aims to integrate wind power, hydrogen production, and environmental conservation in an unprecedented venture.

The Neptunus Energy Hub, positioned approximately 50 kilometers off the coast of Blekinge in southern Sweden, envisions hosting up to 207 wind turbines, reaching a maximum height of 420 meters. The comprehensive permit application outlines a significant total installed capacity of 3,100 MW, with construction slated to commence in 2030 pending necessary approvals.

What distinguishes Neptunus is its holistic approach to renewable energy. Beyond offshore wind power, the project proposal includes provisions for offshore hydrogen production, targeting an annual capacity of 370,000 tonnes. Notably, the hydrogen production process generates oxygen as a byproduct, forming the foundation for a pilot initiative to oxygenate the Baltic Sea. This innovative endeavor aims to contribute to marine life restoration in an area grappling with oxygen deficiency.

In its early developmental stages, the Neptunus project adds 1,900 MW to OX2's extensive project development portfolio. As of the third quarter in 2023, OX2's overall project development portfolio stood at an impressive 34,074 MW. Actively engaged in the development of six offshore wind farms across Sweden, OX2 and Ingka Investments participate in projects such as Galene on the west coast, Triton and Neptunus in the south, Aurora between the islands of Öland and Gotland, and Pleione and Ran off the east coast of Gotland. The final permits for these wind farms' construction are issued by the Swedish government.