OX2 partners Alandsbanken for 250-turbine offshore wind project in Aland

Swedish renewables developer OX2 has partnered with Finnish commercial lender Alandsbanken Fondbolag Ab to develop a 250-turbines offshore wind farm project that will be developed near Finland's Aland islands.

OX2 has signed a Memorandum of Understanding (MoU) with a special investment fund of Alandsbanken that will co-own the wind project. Named as 'Noatun wind farm', the project is expected to produce up to 20 TWh of energy per year. 

The partners are planning to offer investors and the public an opportunity to invest in the project through a fund.