The two have signed a letter of intent to develop the Port of Hanko's Koverhar Harbour into an offshore wind energy (OWE) hub for the 250-turbine-big, 4,000-megawatt-strong Noatun Åland North OWE farm.
"Unlike a greenfield development, the Koverhar Harbour already possesses the fundamental infrastructure needed for the offshore wind logistics. With limited adaptations and targeted investments, it can be quickly optimised to serve the industry, making it a highly efficient and cost-effective solution," the parties said in a press release.
As such, the letter of intent outlines a framework for evaluating storage, assembly, and logistical needs. It also includes an option for using Koverhar in setting up Noatun Åland South (4,700MW).
In addition, the Port of Hanko and Euroports have a separate exclusive agreement to explore the long-term development of the Koverhar Harbour to meet the growing demands of the general OWE market.
"This agreement cements the Koverhar Harbour's role as a vital node in the offshore wind supply chain in the Baltic. Our expertise in port operations and logistics will be instrumental in ensuring the seamless execution of these projects, and we look forward to working alongside OX2 to bring this vision to life," said Frédéric Platini, CEO & Vice Chairman of Euroports.
Anders Wiklund, Regional Manager at OX2 and CEO & Chairman of the Board of Directors of the Noatun project companies (jointly held by OX2 and Ålandsbanken Offshore Wind I LP, a fund managed by Ålandsbanken Funds), added, "Our project represents one of the most significant offshore wind initiatives in the Baltic Sea. Partnering with Euroports and leveraging the strategic location of the Koverhar Harbour ensures that we have the necessary infrastructure and expertise to make this project a success."
Anders Ahlvik, the Port of Hanko's CEO, also commented, "The development of the Koverhar Harbour into a hub for offshore wind logistics aligns perfectly with our long-term vision for the Port of Hanko. This collaboration strengthens our role as a key enabler of Finland's renewable energy transition and will drive significant economic and infrastructure development in the region."
Juha Känkänen, Business Area Director (Energy Funds), Ålandsbanken Funds, summed up, "The Port of Hanko will be an important aspect of the construction of the Noatun North project, which brings vital green electricity to where it is most needed, Southern Finland, to enable new industry establishment and business growth for the region."
Photo: Port of Hanko