Stockholm-based floating offshore wind developer Hexicon has entered into an agreement to acquire the remaining 50% stake in the Mareld offshore wind project from its joint venture partner Mainstream Renewable Power.
Following the transaction, Hexicon will have full control of the project. The company will acquire the shares for an upfront consideration of SEK 1 ($0.11) and an additional milestone-based consideration of €4.5m ($5.26m), payable if the project is awarded an offtake contract in a future auction.
The Swedish government is expected to make a final decision on the project’s application under the Swedish Economic Zone Act (SEZ). The application was recommended for approval by the County Administrative Board of Västra Götaland in June 2024.
When fully developed, Mareld has the potential to generate up to 12 TWh of electricity annually, equivalent to the annual electricity consumption of approximately 2 million households, which is important given that electricity demand in western Sweden is expected to double by 2030.
“By taking full ownership, we strengthen our ability to advance the project and realise its long-term value. We now look forward to the Government’s decision on the remaining permits,” said Marcus Thor, CEO of Hexicon.
