Archives: MFN News Items

Hexicon stärker IP-portföljen – beviljas patent för TwinWind™ i USA

Patentet gäller Hexicons flytande plattform TwinWind™, en teknologi som optimerar energiproduktionen på ett givet havsområde genom att två vindturbiner monteras på ett flytande fundament. Bolaget har nu beviljats patent för tekniken i USA, vilket ytterligare stärker bolagets IP-portfölj.

Marknaden för den flytande vindkraften förväntas öka explosionsartat de kommande åren när världen ställer om till ett elektrifierat samhälle drivet av fossilfri energiproduktion. Parallellt med Hexicons välutvecklade globala projektportfölj är IP-skydd och patent grundläggande för bolagets utveckling och erbjudande av tekniklösningar. Att bolaget säkrat patent för den unika TwinWind-teknologin på den amerikanska marknaden är ett glädjande besked som ytterliga stärker etableringen i landet. CTO Niklas Hummel ser positivt på utvecklingen av tekniken:

– Det här ska ses som en tydlig signal och bekräftelse på att vi utvecklar en konkurrenskraftig teknik i TwinWind. I förlängningen stärker det vår position på den framväxande marknaden för flytande vind.

TwinWind-teknologin förutspås bli en game changer för havsvindsektorn, dels som en konsekvens av tydliga miljöpositiva fördelar, men framförallt optimerad energiproduktionen på givet havsområde genom att två fullskaliga turbiner monteras på ett flytande fundament, vilket även bidrar till flexibilitet i placeringen av parkerna. Vindkraftverken kan placeras långt ut från kusten på djupa vatten, vilket öppnar upp för samexistens med kustnära boende, fiskenäring och försvarsmakt.

I dagsläget har Hexicon patent för TwinWind i över 20 länder däribland; Sverige, Frankrike, Storbritannien, Irland och Italien. Flera nationella patent världen över väntas följa, bland annat i Sydafrika och Chile, vilket ytterligare kommer att stärka Hexicons position på den globala marknaden. Patentet i USA är extra positivt då Biden-Harris administrationen offentliggjort stora ambitioner med 30 gigawatt (GW) havsvind till 2030 och upp till 110 GW till år 2050. Nyligen lanserades dessutom en ”Floating Wind Shot”, som inkluderar ett nytt kompletterande mål på 15 GW specifikt för flytande vindkraft till 2035. Det motsvarar drygt 100 gånger mer än vad som är installerat globalt idag. Initiativet kommer att driva på innovation och kommersialisering i hela sektorn, och Marcus Thor, VD Hexicon, ser stor potential för bolaget på den nordamerikanska marknaden:

– Vi är tämligen ensamma om att ha över 10 års erfarenhet av en relativt ny marknad som flytande vindkraft. Vi har investerat i ett spjutspetsteam i USA som är redo att bidra med sin expertis för att sjösätta TwinWind. Därför gläds vi nu extra åt att ha patent i landet, som med sina djupa kuster passar den flytande tekniken optimalt.

Hexicon strengthens its IP portfolio – granted patent for TwinWind™ in the United States

The patent applies to Hexicon's floating platform TwinWind™, a technology that optimizes energy production in a given sea area by mounting two wind turbines on one floating foundation. The company has now been granted a patent for the technology in the USA, which further strengthens the company's IP portfolio.

The market for floating wind is expected to increase significantly in the coming years as the world transitions to an electrified society powered by fossil-free energy production. Parallel to Hexicon’s well-developed global project portfolio, IP-cover and patents are an important part of the company’s development and offering of technology solutions. Securing a patent for the unique TwinWind technology on the American market further strengthens Hexicon’s presence in the US. CTO Niklas Hummel takes a positive view of the development:

This is a clear signal and confirmation that we are developing a competitive technology in TwinWind™. It further strengthens our position in the emerging floating wind market.

The TwinWind technology is predicted to be a game changer for the offshore wind sector, partly for its positive environmental benefits, but above all because of the innovative twin turbine design which enables more turbines per sea area, increasing the energy yield, offering flexibility in the location of the parks. The wind turbines can be placed far from the coast in deep waters, which enables coexistence with coastal residents, fisheries, defense interests and other stakeholders.

Currently, Hexicon has patents for TwinWind™ in over 20 countries, including; Sweden, France, Great Britain, Ireland and Italy. Several national patents worldwide are expected to follow, including in South Africa and Chile, which will further strengthen Hexicon’s position on the global market. The patent in the USA is particularly positive as the Biden-Harris administration announced substantial ambitions of 30 gigawatts (GW) offshore wind by 2030 and up to 110 GW by 2050. Recently, a "Floating Wind Shot" was also launched, which includes a new supplementary target of 15 GW specifically for floating wind by 2035 – roughly around 100 times more than total installed capacity globally today. The initiative is set to drive innovation and commercialization throughout the sector, and Marcus Thor, CEO of Hexicon, sees great potential for the company in the North American market:

Hexicon is one of the few in floating offshore wind with more than a decade of experience in the relatively new field. We have recruited a high-profile expert team in the US ready to contribute to the launch of TwinWind™ and are thrilled to now hold a patent in a country with deep coasts optimal for floating wind technology.

Hexicon väljer turbingigant för TwinHub-projektet i England

Nu är det klart att det blir kinesiska Mingyang, världsledande turbintillverkare, som får leverera vindkraftsturbinerna till Hexicons TwinHub-projekt utanför sydvästra Englands kust. Projektet vann i somras Storbritanniens första auktion för flytande vindkraft.

TwinHub-projektet har garanterats ett 15-årigt stöd från Storbritanniens regering, och det 32 MW omfattande projektet kommer att börja leverera förnybar el någon gång mellan 2025 och 2027. Projektet väntas leda till ytterligare innovation och minskade kostnader för flytande vindkraft, vilket inte bara gynnar brittiska elkonsumenter utan även övergången till ett fossilfritt energisystem på global nivå. 
 
”Ett nära och långsiktigt samarbete med en världsledande turbintillverkare är avgörande i alla vindkraftsprojekt till havs, och i synnerhet för oss som pionjärer inom flytande vindkraft. Mingyang har en imponerande erfarenhet inom havsbaserad vindkraft och expanderar nu snabbt globalt inom både bottenfast och flytande vindkraft. Vi är mycket nöjda med att vi får ta del av bolagets kompetens i vårt unika TwinHub-projekt”, säger Marcus Thor, vd på Hexicon. 
 
TwinHub-projektet kommer att använda sig av Hexicons egen TwinWind™-teknologi, där två av Mingyangs MySE 8.0–180-turbiner placeras på det flytande fundamentet. Den innovativa designen, med två turbiner per fundament, möjliggör för fler turbiner per havsområde, vilket ökar energiproduktionen per areal och minskar miljöpåverkan.  
 
”Vi ser fram emot att delta i detta unika projekt tillsammans med Hexicon. Samarbetet manifesterar våra bolags delade vision om att sänka kostnaderna för flytande vind genom innovation. Dessutom innebär TwinHub-projektet att vi får visa upp våra robusta och mångsidiga lösningar för havsbaserad vindkraft på den hetaste marknaden i världen för flytande vind, och blir ett viktigt steg i vår fortsatta expansion i Storbritannien och Europa”, säger dr. Wei Chen, chef på Mingyang Europe. 
 
Om TwinHub 
TwinHub är ett demonstrationsprojekt som kommer att byggas inom den existerande demonstrationsparken Wave Hub, drygt 25 kilometer utanför Hayle i Cornwall, Storbritannien. Projektet omfattar två flytande plattformar med två turbiner på varje fundament. Vattendjupet varierar mellan 50 och 60 meter, plattformarna kommer att ankras i sjöbotten. Den totala kapaciteten kommer att vara 32 MW, vilket motsvarar elanvändningen för ca 45 000 hushåll.  

Mer information: www.twinhub.co.uk 
 
Om Mingyang Smart Energy 
Mingyang grundades 2006 och är en världsledande tillverkare av vindkraftteknik samt erbjuder integrerade lösningar för förnybar energi inom vind, solceller, energilagring och vätgas. Företaget har 10 000 anställda och verkar på global nivå, med regionala kontor i Tyskland, Vietnam, Sydkorea, Japan och Brasilien. Huvudkontoret ligger i Zhongshan, Guangdong, i Kina och är listat på Shanghaibörsen.

Mer information: www.myse.com.cn

Hexicon appoints Mingyang Smart Energy as the preferred Wind Turbine Generator (WTG) supplier for their stepping stone floating wind project in the UK

The TwinHub project is the first offshore wind project in the Celtic Sea, and the first floating wind project to receive a Contract for Difference (CfD) in the UK. Hexicon appoints Mingyang as the preferred Wind Turbine Generator (WTG) supplier and awards Mingyang the WTG Front End Engineering & Design (FEED) contract for the project.

 The TwinHub project secured a CfD for 15-years of revenue support from the UK Government’s Allocation Round 4 (AR4) in July, and the 32MW project is expected to be commissioned and exporting clean power between 2025 and 2027.  “A strong and lasting collaborating with a major global WTG original equipment manufacturer (OEM) is essential in any offshore wind project and even more important when you are a first mover in floating offshore wind. Mingyang is clearly a world class organisation with an impressive track record in offshore wind and is making significant inroads into fixed and floating offshore wind around the globe. We are very pleased to be enlisting their experience to deliver our project,” says Marcus Thor, CEO at Hexicon. 
 
The TwinHub project will use Hexicon’s TwinWind™ floating foundation technology which will allow two of Mingyang’s MySE 8.0-180 WTGs to be placed on a single foundation, enabling more energy to be generated in a given sea area whilst reducing the environmental impact compared with a single foundation. TwinHub’s successful AR4 CfD bid fully leveraged the advantages of Hexicon’s patented technology, while benefiting from the site’s pre-existing electrical export infrastructure on the seabed and onshore. Additionally, the long-term strategic interests of Hexicon and its supply chain partners in the Celtic Sea, and the broader UK offshore market, contributed significantly to TwinHub’s ability to submit a very competitive CfD bid.
 
The TwinHub project is also an important steppingstone that will encourage innovation and cost reductions in the offshore wind sector, contributing towards the UK Government’s target to deploy 5GW of floating offshore wind by 2030. However, to maximise the economic opportunities of more clean and secure renewable energy, continued UK Government support to the emerging sector is essential. “Mingyang is delighted to engage in such a special project with Hexicon as an innovative floating technology provider. The cooperation underlines our shared vision of improving the economics of floating wind through innovation. Additionally, the TwinHub project will showcase our capabilities in offering robust and versatile offshore solutions in one of the global hotspots for floating wind, and will be a great step forward for our future business in the UK and Europe.” Says Dr. Wei Chen, General Manager of Mingyang Europe. The TwinHub project is working with the local supply chain and looking to act as a catalyst for bringing the economic benefits of floating offshore wind to the region, including Falmouth Port, which has a potential to play an important role in the project’s development, integration of Mingyang’s WTGs onto Hexicon’s floating foundation and ongoing operation and maintenance services of the TwinHub wind farm. 
 
About TwinHub 
The TwinHub demonstrator project will be deployed within the Wave Hub demonstration site, approximately 16m off the coast of Hayle in Cornwall, UK. It will connect to existing subsea cable which runs from the site to an onshore substation in Hayle, making full use of the legacy infrastructure on the site. The offshore site will host two floating offshore wind platforms, each with two turbines. Water depth ranges from 50 – 60 m, so the platforms will be anchored to the seabed with a single point mooring using what is known as the catenary anchor system. The total installed capacity will be a maximum of 32MW, which is enough to power approximately 45,000 homes.

More information: www.twinhub.co.uk 
 
About Mingyang Smart Energy 
Incorporated in 2006, Mingyang Smart Energy Group Limited (“Mingyang”) is a world-leading high-end wind technology manufacturer and integrated renewable energy solutions provider across the wind, photovoltaic, energy storage and hydrogen sectors. Headquartered in Zhongshan, Guangdong, China, Mingyang operates globally across Asia, Europe and South America through regional business centers in Germany, Vietnam, Korea, Japan, and Brazil. Together with customers, Mingyang’s more than 10,000 employees are dedicated to innovating for the clean energy future that benefits the world and drives global decarbonisation. Mingyang is listed on the Shanghai Stock Exchange (SSE: 601615).

More information: www.myse.com.cn

Hexicon väljer designpartner för pionjärprojektet för flytande vindkraft i England

Hexicon har inlett ett samarbete med London Marine Consultants (LMC) avseende design och planering av TwinHub-projektet i sydvästra England. Med detta tas ytterligare steg mot att kommersialisera den banbrytande teknologin för flytande vindkraft.

Projektet TwinHub ligger 16 kilometer utanför kusten i Cornwall i sydvästra England och är den första flytande vindkraftsparken som uppförs i Keltiska havet. Projektet är planerat för 32 MW och vann den första brittiska auktionen för flytande vindkraft i juli i år och väntas vara färdigställt 2025–2027. Nu uppdrar Hexicon åt LMC att ansvara för design och planering, FEED (Front-End Engineering Design), av projektet. 
 
LMC specialiserar sig på marinteknisk design och förtöjningssystem och har omfattande erfarenhet av off shore-projekt. LMC kommer även att använda en rad olika specialister i arbetet, som exempelvis Sowento, Ryder Geotechnical, DNV och Proeon Systems, när TwinHub-projektet rör sig mot byggnation, installation och driftsättning. 
 
De geofysiska undersökningarna på platsen har just inletts och resultaten kommer att användas för att ta vidare planeringen och design av projektet, som utvecklas av Hexicon tillsammans med partnern Bechtel. TwinHub-projektet kommer att använda Hexicons patenterade teknologi TwinWind®, och väntas bli den första flytande vindkraftsparken som driftsätts med dubbel-turbin designen i skala.  
 
”Vi är mycket glada att få ansvaret för planering och design av TwinHub-projektet. Det är ett unikt på många sätt och kommer sätta standarden för hur framtidens flytande vindkraftparker planeras och byggs i stor skala. Nu skrivs historia för den flytande vindkraften och det känns stort att vara en del av det”, säger Nick Palmer, direktör på LMC. 
 
”Vi är övertygade om att LMC är rätt partner för det här uppdraget och det känns väldigt bra att ha med oss deras expertis när projektet nu går in i nästa fas. Deras höga anseende och kompetens är mycket värdefull när vi optimerar TwinWind-teknologin och sjösätter TwinHub-projektet”, säger James Brown, vd på TwinHub Ltd. 

Om TwinHub 
TwinHub är ett demonstrationsprojekt som kommer att byggas inom den existerande demonstrationsparken Wave Hub, drygt 25 kilometer utanför Hayle i Cornwall, Storbritannien. Projektet omfattar två flytande plattformar med två turbiner på vardera fundament. Vattendjupet varierar mellan 50 och 60 meter, plattformarna kommer att ankras i sjöbotten. Den totala kapaciteten kommer att vara 32 MW, vilket motsvarar elanvändningen för ca 45 000 hushåll. www.twinhub.co.uk

London Marine Consultants Ltd (LMC) secures the FEED contract for TwinHub project in the UK

Hexicon’s major steppingstone project TwinHub, the first floating offshore wind project in the Celtic Sea, secured 15-years revenue support from the UK Government in July. LMC is contracted as Principal Designer for the project after securing the high-profile Front End Engineering Design (FEED) contract.

The TwinHub Floating Offshore Wind Farm site is located 16km off the coast of Hayle in Cornwall, United Kingdom. The project is set to be the first ever floating offshore wind farm to be built in the Celtic Sea, having been successfully awarded a Contract for Difference in July’s auction round. Hexicon has decided to contract LMC as Principal Designer for the project. LMC specialise in marine engineering design and provision of mooring systems and has extensive experience of offshore projects requiring installation, logistics, heavy lift engineering and decommissioning. LMC will work with a team of carefully selected specialist contractors including Sowento, Ryder Geotechnical, DNV, and Proeon Systems to support the success of the project as it moves into construction, installation, and start-up.  
 
The offshore site investigation works with geophysical surveys has just commenced and the results of the final project will be used to progress the FEED for the project, which is developed by Hexicon and supported by Bechtel. The project will see the deployment of Hexicon’s patented TwinWind® technology, which is expected to be the first dual turbine floating foundation deployed at large scale globally. 
 
“We are excited to secure the high-profile FEED contract as Principal Designer for the TwinHub project. Having the opportunity to be part of this unique project which sets a standard for how future floating projects are planned and executed at scale is incredibly gratifying. We are pleased to be part of the Floating Offshore Wind-history being written with this project”, said Nick Palmer, Director at LMC. 
 
“We have full confidence in LMC for this work and it feels great to have their expertise involved in the project moving forward. Their reputation and knowledge in the field speaks for itself and will be highly valuable in optimizing the TwinWind technology for deployment at the TwinHub project”, said James Brown, Managing Director of TwinHub Ltd. 
 
The TwinHub project is the first of its kind to be awarded a Contracts for Difference (CfD). It will see 32 MW of floating wind installed at the former Wave Hub site, off the coast of Cornwall, in the Celtic Sea. The award demonstrates Hexicon’s and Bechtel’s commitment to UK local content goals and helps showcase the UK’s supply chain and design capabilities as world class within the floating wind sector. 

Interim Report January-June 2022

ALL EYES ON HEXICON AFTER UK AUCTION WIN

"During the second quarter we have continued to build value in our project portfolio, while reaching milestones within our technology development. There has been several distinctive, important events after the period. The one that undoubtedly stands out is winning the UK’s first ever CfD auction for floating offshore wind, securing a 15-year revenue support from the UK Government for our steppingstone project TwinHub. This was an incredibly important milestone for us and provides evidence of our capability as a project developer, as well as of the competitiveness of our technology."

APRIL–JUNE

  • Net revenue amounted to 2.8 (1.0) MSEK
  • Operating profit/loss was -44.0 (-22.1) MSEK
  • Profit/loss before tax for the period was -44.5 (-22.2) MSEK
  • Earnings per share basic and diluted was -0.12 (-0.08) SEK
  • Cash flow from operating activities was -27.5 (15.5) MSEK
  • At the end of the period the cash at hand amounted to 203.5 (374.2) MSEK

Q2 HIGHLIGHTS

  • GREECE: Created a JV, Hexicon Power SA, in Greece with the local company EAMAA, to develop floating wind projects off the Greek coast.
  • GENERAL: Welcomed the new board members Hans von Uthmann and Lars Martinsson. Hans von Uthmann was elected as new Chairman.
  • GENERAL: Hexicon and Elia Grid International (EGI) joined forces to connect the Floating Offshore Windfarms (FOW) to the onshore grid on a global scale.
  • NORTH AMERICA: Recruited top executives to strengthen Hexicon’s position in North America, following the country's increased offshore wind ambitions.
  • IRELAND Fishing industry and Hexicon unveiled historic collaboration which sees local fishermen engaged in and influencing the development process from the onset.

HIGHLIGHTS AFTER Q2

  • SOUTH KOREA: Hexicon Korea sold its 40% stake in 1,200 MW Yeonggwang project.
  • UK: Won UK’s first ever Contract for Difference (CfD) auction for floating offshore wind, securing 15-year revenue support from UK Government for the major stepping-stone project TwinHub.
  • TECHNOLOGY ROADMAP: The win in the UK triggered a strategic and collective review of the two projects TwinHub and TwinWay to ensure best technology verification.
  • ITALY: AvenHexicon applied for several new water areas in the seas off the coast of Sardinia, Sicily, and Puglia in Italy, entailing the property right to develop offshore wind farms within the area.
  • SOUTH KOREA: Increased ownership in the MunmuBaram project, from 10% indirect ownership to 20% direct ownership. The remaining 80% is owned by Shell Overseas Investments B.V.

COMMENT FROM MARCUS THOR, CEO: ALL EYES ON HEXICON AFTER UK AUCTION WIN

As Hexicon’s early-mover position strengthens and the market accelerates, the opportunity is now to build value for the long haul.

We are in the era of renewable energy. The transition to fossil-free energy sources has gone from being motivated by climate change only, to lately also being motivated by national energy and security politics. These additional arguments entail a greater acceptance for, and interest in, new and innovative sustainable technologies that can be deployed fast and at scale. This plays directly in favor of our business model. With a virtually unlimited potential, floating offshore wind is expected to double annually over the next 20 years, and is going to play a key role in the transition to fossil-free energy systems.

During the second quarter we have continued to build value in our project portfolio, while reaching milestones within our technology development. There has been several distinctive, important events after the period. The one that undoubtedly stands out is winning the UK’s first ever CfD auction for floating offshore wind, securing a 15-year revenue support from the UK Government for our steppingstone project TwinHub. This was an incredibly important milestone for us and provides evidence of our capability as a project developer, as well as of the competitiveness of our technology. This project will serve as the key steppingstone for our technology and follow-on projects, as it is in an expansive region within the most mature offshore wind market in the world, and, contains multiple foundations hosting large-scale wind turbines.

South Korea continues to be of strategic importance. After the period, our joint venture company, Hexicon Korea, successfully sold its 40% stake in the 1,200 MW Yeonggwang project, a project originated by ourselves. This is a clear example of what our business model looks like in practice – to initiate projects, raise the value through rights and licenses, and sell at a premium with both short- and long-term earnouts. On the other side of the country, the MunmuBaram project is set to be one of the biggest floating wind farms in the world. The project stands out in our portfolio with its size and maturity, and that is why we decided to increase our ownership buying 20% of theproject from Hexicon Korea, going from a 10% indirect ownership to a 20% direct ownership. With several milestones ahead this puts us in a strategically advantageous position for future returns.

Collaboration and coexistence continue to be at the heart of how we go about things at Hexicon. It is essential that we base our projects on constructive dialogue with key stakeholders and regional organizations. We are very proud of our ‘new approach’ in Ireland with The Killybegs Fishermen’s Organisation, the first time traditionally opposing sectors come together for a common objective from the onset. I am convinced that this partnership with local fishermen will serve the project well, but also hope it can serve as a role model for the entire industry going forward.

We have a window of opportunity to capitalize on our early-mover position within floating wind, an industry that is spreading across the globe. Since our IPO in June last year, the number of countries who have adopted legislation and targets for floating wind has steadily grown. We are now deliberately taking on a higher burn rate to be able to secure new projects, whilst managing a steadily growing portfolio. The increase in expenditure goes directly toward project developments and expansion, which can be monetized at higher valuations as we mature the projects and achieve significant milestones. As a trailblazer and pioneer, we are building value for the long haul, and it is with great confidence and determination that we continue our journey

Marcus Thor
CEO

PRESENTATION
Today, at 11:00 CET, the company’s CEO Marcus Thor will provide an update of the operations in a webcast. Link to the webcast: https://tv.streamfabriken.com/hexicon-q2-2022.
 
LINK TO THE REPORT
The report will be available for download at: https://www.hexicongroup.com/reports-presentations/.
 

Invitation to Hexicon’s presentation of the interim report for January-June 2022 on 18 August 2022

On 18 August at 08:00 CEST, Hexicon AB (publ) will publish its interim report for January-June 2022. On the same day at 11:00 CET, the company’s CEO Marcus Thor will provide an update of the operations in a webcast. There will also be an opportunity to ask written questions through the webcast.

The report will be available for download at: https://www.hexicongroup.com/reports-presentations/
 
The webcast starts at 11:00 CEST and will be held in English.
 
Link to the webcast: https://tv.streamfabriken.com/hexicon-q2-2022
 
No advance notification is necessary. After the presentation, a recording of the webcast will be available at https://www.hexicongroup.com/reports-presentations/.

Inbjudan till Hexicons presentation av delårsrapport för perioden januari-juni 2022 den 18 augusti 2022

Den 18 augusti klockan 08.00 CEST publicerar Hexicon AB (publ) sin delårsrapport för perioden januari-juni 2022. På samma dag klockan 11.00 CEST ger bolagets VD Marcus Thor en verksamhetsuppdatering via webbsändning. Det kommer även finnas möjlighet att ställa skriftliga frågor mot slutet av webbsändningen.

Rapporten kommer att finnas tillgänglig på: https://www.hexicongroup.com/reports-presentations/
 
Webbsändningen börjar klockan 11.00 CEST och kommer hållas på engelska.
 
Länk till webbsändningen: https://tv.streamfabriken.com/hexicon-q2-2022
 
Ingen föranmälan krävs. Efter presentationen kommer en inspelad version av sändningen finnas tillgänglig på https://www.hexicongroup.com/reports-presentations/.

Strong development for Hexicon in Italy – concession applications filed for several floating wind farms

Hexicon is operating in Italy through its joint venture, AvenHexicon Srl, with partner Avapa Energy Srl. AvenHexicon is currently in the process of developing five sites situated around the coasts of Sardinia, Sicily, and Puglia. Grid applications have been filed for all five sites, State Maritime Concession applications have been submitted, with the first for the area in the Strait of Sicily, a 1,200 MW offshore wind farm, having been published.

With a large coastline and good wind resources, especially in the deep waters of the Mediterranean Sea, Italy has strong potential for floating wind. Recently, GWEC highlighted the country as one of the top 5 emerging markets for offshore wind. The country is aiming to generate 55% of its total electricity generation from renewables by 2030. Hexicon’s 50/50 joint venture AvenHexicon has just obtained the publication of the first one of several applications to the Italian authorities for State Maritime Concession for a 1,200 MW offshore wind farm outside of Porto Empedocle in south Sicily. The offshore wind farm in the Strait of Sicily is set to contribute to the Italian Government goals of deployment of 6-7 GW of new yearly renewable capacity to 2030. 
 
The five potential development sites are situated around the coasts of Sardinia, Sicily, and Puglia. Grid connections were applied for earlier this year, and with the Italian government signaling an ambition to take measures to speed up the processes for renewable energy projects, to faster cut dependence on Russian gas, the market is ready to meet the rising demand. 
 
“This is certainly the first step in the positive and constructive process that we are prepared to follow to complete the permitting process with full involvement of all concerned stakeholders – from local communities to industrial groups, environmental groups, and the transmission network operator,” said Alberto Dalla Rosa, CEO at AvenHexicon. 
“Hexicon is active in several countries with multiple development sites, Italy being one of them. The signals are strong from the authorities, so it is full speed ahead for all projects in the area. We will continuously submit applications for all our sites in the near future and have great dedication in moving the process along,” said Marcus Thor, CEO at Hexicon.