Hexicon, a project developer and technology provider in floating offshore wind power, is happy to announce that Freja Offshore, a joint venture with Mainstream Renewable Power, has submitted another application for an offshore wind farm.
Hexicon AB ("the Company" or "Hexicon") has entered into an agreement for a credit facility of up to SEK 75 million, which can be utilized as needed, with disbursements of SEK 10 million at a time.
Hexicon, a project-developer and technology provider within the floating wind industry, is proud to announce that the joint venture with Mainstream Renewable Power, Freja Offshore, has submitted an application for an offshore wind farm in the Baltic Sea named Cirrus off the south coast of Sweden. With its potential to deliver 10 TWh annually, Cirrus can provide renewable and cost-effective energy to over 2 million households annually, or the equivalent of half a million single-family Swedish homes.
Hexicon AB, through its subsidiary Hexicon Holding AB (“Hexicon”) has entered into a development financing agreement of up to EUR 45 million with Glennmont Partners (“Glennmont”), one of Europe’s largest fund managers focusing exclusively on investments in clean energy infrastructure, as lender (the “Agreement”).
Italian TSO, Terna SpA, has granted six of Hexicon’s seven wind power sites connection to the national grid. The six sites encompass a total combined capacity of 7,100 MW. Permit for the remaining site is still in process.
The European Patent Office (EPO) has announced its intention to grant Hexicon’s patent application for its unique mooring system using "Tension Leg Platform" technology. The mooring system is part of the TwinWind™ technology which last year already received EPO’s patent application approval for its inclined towers. The EPO’s decision to grant the TLP patent application means that Hexicon now has the option to acquire validated patents in European countries.
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.
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.
The MunmuBaram project off the south-east coast of South Korea is one of the biggest planned floating wind farms in the world and is set to play a significant role in the global development of commercial scale floating wind. Hexicon is now increasing its direct ownership and buying 20 percent of the project company from the joint-venture Hexicon Korea.
Major stepping stone project TwinHub secures 15 year revenue support from UK Government for first floating offshore wind project in England and Wales.
Twin Hub floating demonstrator project in the Celtic Sea has now been awarded a marine licence, for a renewable energy test site in Cornwall, South West England.
Hexicon has created a 50-50 Joint Venture – AvenHexicon SRL – with Avapa Energy with the purpose of developing floating wind power projects in Italian waters. In addition, Hexicon will license its patented technology to AvenHexicon for use in its projects and by third parties. Italy is one of the main recipients of the EU Green Deal and is hence assessed to be a key market in Europe for floating wind power.
Hexicon, a leading technology and project developer in floating wind farms, has completed its acquisition of the Wave Hub renewable energy test site in Cornwall, South West England, paving the way for Hexicon’s first deployment of its Twinwind floating foundation technology in UK waters by 2025.
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