As a project developer, Hexicon is constantly exploring new market opportunities to expand its existing market activity. Hexicon is one of the few companies in the field of floating offshore wind with more than a decade of experience. The regional teams have extensive local knowledge, ensuring to identify the best locations to deploy floating wind.
Project developer
First-mover in a rapidly expanding market
PROJECT DEVELOPMENT PROCESS
As part of Hexicon’s dual business model, Hexicon creates value in an early-stage from being a project developer.
As a project developer, Hexicon is leading the process in the first 2-8 years of a project. During this period Hexicon is building valuable partnerships with local stakeholder and seeking permits to deploy the construction of floating wind farms. Until the final investment decision (FID), Hexicon’s ownership in projects is later divested at a premium well before completion and even construction.
Projects
Location
Estimated gross capacity
Hexicon’s stake
Site(s)
Partner(s)
Target FID/COD
MunmuBaram
South Korea
Ulsan
~1,300MW
20%
Secured
Shell Overseas Investments B.V
2025 / 2027
Pohang
South Korea
East Coast
900MW
30%
Secured
Hexicon Korea
TBA
Pentland Floating Wind Farm
Scotland
Dounreay
100MW
10%
Secured
CIP
2024 / 2026
Freja Offshore
Sweden
Multiple
+3,000MW
50%
Identified
Aker Offshore Wind
2027> / 2029>
TwinHub
England
Cornwall
32MW
100%
Secured
Bechtel
2023 / 2025
AvenHexicon
Italy
Multiple
7,100MW
50%
Secured
Avapa Energy
TBA
Gross projects + 12,400 MW
Net projects + 5,500 MW
FID – Final Investment Decision COD – Commercial Operational Date
Prospects
Location
Estimated gross capacity
Hexicon’s stake
Site(s)
Partner(s)
GenesisHexicon
South Africa
Richards Bay
800MW
50%
Identified
Genesis Eco-Energy
TBA
Ireland
West Ireland
~2,000MW
100%
Identified
Killybergs Fishermen’s Org.
AvenHexicon
Italy
Multiple
2,150MW
50%
Identified
AvapaEnergy
Gross prospects + 5,300 MW
Net prospects + 3,400 MW
1 MW ≈ 1,000 households, “rule of thumb” industry standard
