OX2 has secured a permit from the Swedish Government to build a 400MW offshore wind farm on the west coast of Sweden.
The permit was granted for the construction of the northern part of the project, Galatea-Galene, which has a capacity of 1.7GW.
OX2 CEO Paul Stormoen said: “It is very positive that the government takes initiative to build out the offshore wind power in Sweden.
“We look forward to a constructive discussion on how the projects can be realised in the fastest and most cost-efficient way to secure that Sweden can have a considerable addition of emissions-free electricity by 2029.”
Besides Galatea-Galene, OX2 has two more offshore projects: the 1.7GW Triton in the south of Sweden and the 5.5GW Aurora, which is between the islands of Öland and Gotland.
The Swedish Government is yet to finalise the Triton and Aurora projects.
Last year OX2 divested a 49% stake in three Swedish offshore wind projects to Ingka Investments, the investment arm of Ingka Group.
Under the agreement, OX2 will receive around Skr1m per megawatt for 49% of the planned total capacity once all permits have been received.
Ingka Investments CEO Peter van der Poel said: “Sweden is one of the countries in Europe with the best conditions for offshore wind power.
“We have more projects waiting for decision by the government and look forward to being part of a build out that will benefit consumers as well as business and industry in Sweden.”
Earlier this month, OX2 agreed to sell a 49% stake in three Finnish offshore wind farms to Ingka Investments.