OX2 and Ingka Investments, the investment arm of the Ingka Group (IKEA’s largest retailer), are set to submit an application for a pioneering offshore wind-to-hydrogen project off the coast of Gotland, Sweden.
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OX2 and Ingka Investments, the investment arm of IKEA’s parent company, Ingka Group, have set their sights on transforming Sweden’s renewable energy landscape with the ambitious Neptunus offshore energy hub.
OX2, a prominent player in renewable energy, has struck a deal with Ingka Investments, the investment arm of Ingka Group, the largest IKEA retailer, to sell a substantial 49 percent stake in advanced Swedish offshore wind and hydrogen projects.
The southern Baltic Sea offshore energy hub Neptunus is currently being developed by OX2. The energy hub will generate both electricity and hydrogen, with a total installed capacity of an estimated 1.9 GW.
The Norwegian Orkla and the Swedish OX2 have partnered to provide green hydrogen to the company’s Haraldsby facility in Land.
A feasibility study on the generation and distribution of large-scale offshore wind-to-hydrogen and e-fuel on the archipelago of Aland in the Baltic Sea has been launched by OX2 and the mutual fund division of the Finnish Bank of Aland.
