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Malta: Offshore Wind Project Continues as Planned

July 29, 2012

Malta: Offshore Wind Project Continues as Planned

Hexicon AB, a Swedish clean tech company specializing in the design of off-shore platforms for wind and wave power, is continuing the development of a renewable energy solution for Malta together with the local subsidiary Hexicon Malta Ltd and in close cooperation with Maltese authorities. The project is independent of and thereby unaffected by the European Commission’s NER300 decision.

The off-shore wind power project on Malta is developing according to plan. Hexicon is having a close and fruitful dialogue with the relevant Maltese authorities and it expects to take the next step in the project in the near future, says Anders Tunbjer, CEO of Hexicon AB.

Recently, the European Commission announced the beneficiaries of the NER300 programme, an EU co-finance scheme supporting the construction of renewable energy plants.

Together with local subsidiary Hexicon Malta Ltd, Hexicon AB applied for NER300 co-finance for the construction of a floating platform for wind and wave power outside Malta. The Maltese project was not selected as one of the beneficiaries.

Hexicon AB has expended its technical and human resources over the last two years which contributed to the achieved advances on its floating wind platform project. The project has matured in such a way that Hexicon has received more than expected interest from different investors and financial institutions.

The project is entirely unaffected by the European Commission’s decision. The company proceeds as planned, and it is looking forward to continue the close cooperation with Maltese authorities towards finalizing the necessary permits.

Furthermore, the company has conducted several of the technical verification steps and it is establishing a good dialogue with potential builders of the platform as well as financiers. The wind studies that have been done in the area show that the project is still very interesting from an investors point of view, concludes Anders Tunbjer.

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Offshore WIND staff, July 29, 2012; Image: Hexicon