Hexicon AB (publ) ("Hexicon") announces that the Swedish Government has decided to reject the permit application for the Mareld offshore wind farm, located off the coast of Västra Götaland.
The Government's decision is final and cannot be appealed. Hexicon is now reviewing the decision and evaluating next steps.
Mareld was planned approximately 40 kilometres west of Orust, within Sweden's exclusive economic zone.
Once fully developed, the offshore wind farm was expected to generate up to 12 TWh of renewable electricity annually, contributing significantly to the electricity supply in western Sweden.
"This is a regrettable decision and disappointing news for the entire Swedish offshore wind industry. Mareld had the potential to deliver substantial volumes of renewable electricity to a region where the need for new electricity generation is significant. While the decision concerns Mareld, its implications extend beyond a single project. Sweden needs to create the conditions for a major expansion of new electricity generation, and offshore wind has the potential to play an important role in that development. Today's decision creates significant uncertainty for the entire industry and for the ability to deliver future large-scale investments in renewable energy," says Marcus Thor, CEO of Hexicon.