Renewable energy developer OX2 and logistics company Euroports Group have signed a letter of intent to develop Koverhar Harbour in Hanko, southern Finland, into a logistics hub for offshore wind, starting with the 4-gigawatt (GW) Noatun North project.
The agreement outlines plans to use the harbour for the storage, assembly and transportation of key components for the Noatun North wind farm, which is expected to feature up to 250 turbines and begin operations in 2030. The letter also includes an option to extend the use of the harbour to the Noatun South project.
“This agreement cements Koverhar Harbour’s role as a vital node in the offshore wind supply chain in the Baltics,” said Frédéric Platini, chief executive and vice chairman of Euroports. “Our expertise in port operations and logistics will be instrumental in ensuring the seamless execution of these projects, and we look forward to working alongside OX2 to bring this vision to life.”
OX2 said the partnership represents a key step in scaling up offshore wind capacity in Finland by securing access to essential port infrastructure. The company noted that Koverhar Harbour already has suitable infrastructure in place, requiring only targeted upgrades to support offshore wind activities.
“Our project represents one of the most significant offshore wind initiatives in the Baltic Sea,” said Anders Wiklund, regional manager at OX2 and chairman of the board of the Noatun project companies. “Partnering with Euroports and leveraging the strategic location of Koverhar Harbour ensures that we have the necessary infrastructure and expertise to make this project a success.”
Under the agreement, OX2, Euroports, and the Noatun project companies—jointly owned by OX2 and Ålandsbanken Offshore Wind 1 LP, a fund managed by Ålandsbanken Funds Ltd—will assess the harbour’s logistical requirements and develop plans for any necessary infrastructure modifications.
In parallel, Euroports and the Port of Hanko have entered a separate exclusive agreement to explore long-term development opportunities for Koverhar to meet increasing offshore wind sector demand.
“The development of Koverhar Harbour into a hub for offshore wind logistics aligns perfectly with our long-term vision for the Port of Hanko,” said Port of Hanko chief executive Anders Ahlvik. “This collaboration strengthens our role as a key enabler of Finland’s renewable energy transition and will drive significant economic and infrastructure development in the region.”
The Noatun North and South projects are being developed through two joint ventures, with OX2 acting as developer and Ålandsbanken as a long-term shareholder via its investment funds.
