Euroports Group and Noatun project companies, jointly held by OX2 and Ålandsbanken Offshore Wind I LP, a fund managed by Ålandsbanken Funds Ltd, have signed a Letter of Intent (LoI) to establish Koverhar Harbour in Hanko as a key logistics hub for the construction of the offshore wind farm project Noatun North, including an option for Noatun South as well. This collaboration marks a significant step in strengthening Finland’s offshore wind infrastructure and securing essential port capacity to support the industry’s expansion.
The Noatun North Project is expected to comprise of up to 250 turbines with a total capacity of up to 4000 MW. The use of Koverhar Harbour for this project is planned to start in 2030, requiring a significant port capacity to accommodate the storage, assembly, and transport of key wind turbine components. Unlike a greenfield development, Koverhar Harbour already possesses the fundamental infrastructure needed for the offshore wind logistics. With limited adaptations and targeted investments, it can be quickly optimised to serve the industry, making it a highly efficient and cost-effective solution.
A Collaborative Approach to Infrastructure Development
The success of this initiative will require close cooperation between the parties to assess and develop the necessary port infrastructure. The LoI outlines a framework for evaluating storage, assembly and logistical needs. In addition, the Port of Hanko and Euroports have a separate exclusive agreement to explore the long-term development of Koverhar Harbour to meet the growing demands of offshore wind projects.
“This agreement cements Koverhar Harbour’s role as a vital node in the offshore wind supply chain in the Baltics,” said Frédéric Platini, CEO & 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.”
Anders Wiklund, Regional Manager OX2 and CEO and Chairman of the Board of Directors of the Noatun project companies, added: “Our project represents one of the most significant offshore wind initiatives in the Baltic Sea. 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.”
Anders Ahlvik, CEO of the Port of Hanko, emphasised the strategic importance of this initiative: “The development of Koverhar Harbour into a hub for offshore wind logistics aligns perfectly with our long-term vision for the Port of Hanko. 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 Port of Hanko will be an important aspect of the construction of the Noatun North project, which brings vital green electricity to where it is most needed, southern Finland, to enable new industry establishment and business growth for the region” says Juha Känkänen, Business Area Director (Energy Funds), Ålandsbanken Funds Ltd.
Source: Euroports
