Project developer

First mover in a rapidly expanding market

As a world leading early-stage developer of floating offshore wind projects, Hexicon is constantly exploring new opportunities and expanding our existing market activity. Hexicon is one of the few companies within the field of offshore wind with more than 10 years 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 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

TBA

Italy

Multiple

~2.550MW

50%

Secured

AvenHexicon

TBA

Gross projects + 7.500 MW

Net projects + 3.000 MW

FID – Final Investment Decision COD – Commercial Operational Date

Prospects

Location

Estimated gross capacity

Hexicon’s stake

Site(s)

Partner(s)

TBA

South Africa

Richards Bay

800MW

50%

Identified

Genesis Hexicon

TBA

Spain / Portugal

Canary Islands, NW Portugal

TBA

75%

Selection ongoing

WunderHexicon

TBA

Ireland

West Ireland

2.000MW

100%

Identified

TBA

TBA

Italy

Multiple

+3.000MW

50%

Identified

AvenHexicon

Gross prospects + 5.500 MW

Net prospects + 2.500 MW

1 MW ≈ 1000 households, “rule of thumb” industry standard

Latest news

PRESS RELEASE: 2023-08-11

Hexicon appoints Max Ek as interim CFO

PRESS RELEASE: 2023-07-25

Hexicon gives notice for early repayment of outstanding convertible loans

PRESS RELEASE: 2023-07-17

Hexicon’s board rejects conditional bid

Further reading

Investing in Hexicon

Press Releases

Projects