Eolus and Simply Blue Group have reached an agreement for the complete transfer of ownership of the joint venture SeaSapphire to Eolus, the companies announced on Tuesday, marking a significant development in the offshore wind energy sector in the Nordic region.
The joint venture, established in 2022 with equal ownership by both companies, aimed to collaboratively develop offshore wind projects in the Nordics, with a focus on floating technology. These projects, situated in Sweden and Finland, are currently in their early development stages.
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Following a strategic reassessment of its global project portfolio, Simply Blue Group has opted to exit the Nordics market. As per the mutually agreed terms, Simply Blue will transfer its 50% share in the SeaSapphire joint venture to Eolus, in exchange for a future profit-sharing mechanism.
The completion of this transaction is contingent upon the approval of the Swedish Inspectorate of Strategic Products.
Hugh Kelly, Co-Chief Executive Officer of Simply Blue Group, conveyed his well-wishes to Eolus, stating, “As we turn our focus to other markets, we would like to wish Eolus every success in the continued development of the SeaSapphire projects.”
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Per Witalisson, Chief Executive Officer of Eolus, expressed optimism regarding the long-term prospects of offshore wind power based on floating technologies, emphasizing the anticipated surge in electricity demand in the coming decades. Witalisson affirmed, “We intend to develop the projects at a pace aligned with the maturity and cost competitiveness of the floating technology.”
In addition to assuming full ownership of SeaSapphire, Eolus disclosed plans for several other wholly-owned offshore wind schemes. In 2023, the company submitted permit applications for three projects: Västvind, in collaboration with Volvo Cars and the Port of Gothenburg; Arkona, located south of Sweden; and Najaderna, situated outside the Tierp municipality in Uppsala County.
