Project developer

First-mover in a rapidly expanding market

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 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

WunderHexicon

Spain / Portugal

Canary Islands, NW Portugal

TBA

75%

Selection ongoing

Wunder Sight Group

TBA

Ireland

West Ireland

~2,000MW

100%

Identified

Killybergs Fishermen’s Org.

AvenHexicon

Italy

Multiple

2,250MW

50%

Identified

AvapaEnergy

Gross prospects + 5,300 MW

Net prospects + 3,500 MW

1 MW ≈ 1,000 households, “rule of thumb” industry standard

Further reading

Investing in Hexicon

Press Releases

Projects