Developer OX2 and local investor Ålandsbanken Fondbolag have extended an existing cooperation agreement to a second giant offshore wind project off the Finnish archipelago of Åland.

The early development projects – Noatun Syd and Noatun Nord – would jointly produce some 40 terawatt hours of electricity, which corresponds roughly to an installed capacity of 8GW.

It is also sufficient for the annual consumption of eight million households. As Finland only has five million inhabitants and in 2020 had an annual power production of 67TWh, grid links to the autonomous region of Åland, as well as mainland Sweden, Finland and Estonia are being considered.