Oxan Energy Wins First Estonian Floating Offshore Wind Tender

French-based offshore wind developer Oxan Energy has emerged as the successful bidder in the inaugural Estonian floating offshore wind tender. The company, in partnership with SNOW, a renewable power generation financial advisor, will spearhead the development of the Saare 1 project, boasting a potential capacity of 900MW and accommodating up to 60 turbines.

Environmental and technical studies will be kickstarted by the two companies, commencing with an environmental impact assessment. The project aligns with Estonia’s ambitious target to achieve 100% electricity generation from renewable sources.

The designated zone for the Saare 1 project is situated 60 km off the coast of Saaremaa, Estonia’s largest island, spanning an area of 88 km with water depths reaching up to 85 meters. Leveraging the significant water depth, the project presents an opportunity to amalgamate floating and bottom-fixed technologies. The wind farm’s layout will be finalized post-impact assessment, guided by findings from the environmental and technical studies, with an anticipated completion date of 2033.

Oxan clinched the auction uncontested, submitting a bid of $1.36 million as confirmed by Estonia’s Consumer Protection and Technical Regulatory Authority. Of the three companies initially qualified to partake in the tender—Luxcara’s CI Estonia Wind GmbH & Co KG, OU Utilitas Wind from Estonia, and Oxan—only the latter proceeded with an offer.

Notably, this marks the second auction for the Saare 1 area, following a relaunch on January 21 due to a lack of bids in the initial competitive bidding round.