Norwegian company Magnora and Swedish partner Kustvind have decided to accelerate growth plans to develop the 500 MW Sydkustens Vind offshore wind farm in southern Sweden.
The project is now entering its development phase, and physical studies of the seabed and project area, in general, will also start. It has been accelerated by 10 months, compared with the original schedule.
Sydkustens Vind is located approximately 8km offshore the southern coast of Sweden and will have a production capacity of 2 terawatt-hours a year.
Magnora director of offshore and industrial projects Bjorn Sund commented: “The offshore project is located centrally in the Oresund region which has 3.5 million inhabitants. The region has experienced strong population growth over the past decades and is expected to continue growing due to increased urbanization. Furthermore, the Copenhagen Municipality has together with leading Danish corporations decided to build the world’s largest green hydrogen facility. Both factors are positive for the region’s demand for green energy.”
Magnora signed a final shareholder agreement with Kustvind on 20 March 2020, that will see the former gradually increase its ownership in the company up to 50% based on a detailed milestone plan.
