Freja Offshore applies for permit for floating offshore wind farm on the west coast of Sweden

Freja Offshore, a leading renewable power developer in Sweden, has today submitted a planning application under the Swedish Economic Zone Act (SEZ) for the Mareld floating wind farm, situated more than 40 km directly west of Orust, on the border with Norway and Denmark. When fully operational, the wind farm has the potential to deliver 9-12 terawatts (TWh) of power annually with a capacity of up-to 2.5 GW which corresponds to more than half of the entire existing electricity consumption of the Västra Götaland region.

Today, the majority of the electricity consumed in the Västra Götaland region is imported. For the west of Sweden to realize its ambitious industrial plans, and to generate the associated economic benefits, including employment prospects, large volumes of power will need to be produced locally. By 2030, the electricity demand in the west of Sweden is expected to double when compared to current usage, and to triple by 2055. The region plans to generate the power needed through the establishment of new wind and solar power. Freja Offshore has now submitted an application to construct and operate a wind farm under the SEZ and to establish of an internal cable network under the Continental Shelf Act. The application has been submitted to the Swedish Ministry of Climate and Business.

"This is a significant milestone for us at Freja Offshore - after two years of hard work, and extensive stakeholder engagement, including with local communities and environmental stakeholders, we are now ready to apply for a permit that grants us the construction rights for the Mareld floating wind farm. Floating wind power, which is already operational in other parts of Europe, has unique characteristics insofar as it can be situated a long distance offshore, addressing concerns regarding visual and audible pollution whilst being able to benefit from higher wind speeds. We are confident that the advantages of floating offshore wind, when combined with the industrial heritage and offshore track-record of our shareholders, give us the best possible chance of being successful in our permitting application," says Magnus Hallman, CEO of Freja Offshore.

Olof Lundberg, the chairman of the Municipal Executive Board in Stenungsund, is positive about Freja Offshore's application for a floating wind farm on the West Coast:

"This project could do wonders for our region," he said. "Not only will it provide us with locally produced electricity that will bring down prices, but it will also help to preserve and strengthen our industrial sector. We rely on electricity-intensive industries to create jobs and drive our economic growth. As a result, we are committed to supporting investments that enhance our competitiveness and improve our residents' job prospects."

Sweden has ambitious renewable energy targets of 100% renewable energy production by 2040 and to produce 120 TWh annually from offshore wind. The government will consider Freja Offshore’s application and gather input from several agencies in a consultation round before making a decision.

ENDS

About Freja Offshore
Freja Offshore AB is a joint venture between Mainstream Renewable Power, an Aker Horizons’company, part of the Aker Group of Norway, and Swedish company Hexicon AB. Freja Offshore was established to develop, build and operate floating offshore wind farms in Sweden. With accumulated experience from offshore projects in the North Sea and around the world, the company wants to contribute to a sustainable energy transition with third-generation wind power-floating wind electricity production beyond the horizon.

About Floating Wind Power
Floating wind power has unique characteristics that distinguish it from traditional wind power. For example, the floating foundations can be placed independently of water depth far out at sea where the winds are strong and stable. The flexible placement far out at sea means that electricity production takes place beyond the horizon (unobstructed view and no disturbing noise), making it easier for floating wind power to coexist with stakeholders such as the military, the fishing industry, shipping traffic and local communities. Additionally, cost-effectiveness can be maintained as larger and more wind turbines are installed worldwide, as this drives down costs globally.

About Mainstream Renewable Power
Mainstream Renewable Power (“Mainstream”) is a leading pure-play renewable energy company with a presence across Europe, the Americas, Africa, and Asia-Pacific. Employing over 600 people across five continents, the company has a global portfolio of 21.7 GW. In May 2021, Norway-based Aker Horizons acquired a majority stake in Mainstream and, in April 2022, Japan-based Mitsui & Co., Ltd. joined Aker Horizons as a long-term strategic investor. In addition to bringing forward industrial-scale onshore wind and solar projects around the world, we are advancing gigawatt-scale offshore wind projects in Vietnam, South Korea, Norway, Ireland, the UK, and Sweden. The company’s growth trajectory and offshore wind ambition accelerated in 2022 with the integration of Aker Offshore Wind, combining world-class development and industrialization capabilities through the Aker group of companies with Mainstream’s strong development and execution track record. Further to our ambition in the floating wind market, the company holds preferential rights to bankable floating foundation technology through ownership in Principle Power. Mainstream is currently developing a net capacity of 1.3 GW of floating offshore wind in Scotland and South Korea and 1.23 GW of fixed bottom offshore wind in Vietnam. Follow us on LinkedInand @MainstreamRP on Twitter. For more information, visit www.mainstreamrp.com.

About Hexicon
Hexicon is an early project-developer in floating wind, opening new markets in deep water areas, and a technology provider with a patented floating wind design – TwinWind™. The dual business model supports the world’s transition to sustainable energy. Floating wind is an important part of the future energy mix. It can be deployed quickly and at scale, contributing to the electrification of society at large. Hexicon operates in several markets across Europe, Africa, Asia, and North America. Hexicon is listed on Nasdaq First North Premier Growth Market (ticker HEXI). www.hexicongroup.com