Sweden's offshore wind market is on the rise with fierce competition
Sweden's offshore wind market is characterized by intense competition as this open-door market has attracted lots of attention and developers.
Sweden’s open-door offshore wind market has attracted a long list of developers, and more than 20 developers have announced projects. Additionally, Sweden's climate targets and energy policy targets, together with the current geopolitical situation, are key drivers for the transition of the Swedish energy system.
- More than 60 projects have been announced along the Swedish coast by a multitude of both local and experienced international developers as well as developer partnerships.
- Massive gigawatt-scale projects are being lined up, with announced projects totaling more than 120 GW.
- However, roughly 30% of the projects overlap and are thereby competing for securing permits, site exclusivity, and grid connection. The overlapping projects are mainly seen in southern Sweden, in Kattegat and the Baltic Sea, but are also found in the Gulf of Bothnia.
The Swedish government is currently looking at changing the framework for the open-door scheme, which could set a new scene for offshore wind development in Sweden when the work is done in 2024.
Are you interested in more in-depth information regarding the changing regulatory framework, competitive situation and offtake options in Sweden's offshore wind market?
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