Bank of Åland (Ålandsbanken) and OX2 have extended their cooperation to develop another offshore wind power project, Noatun Nord, located north of Åland (Finland). The project will be conducted via a jointly owned company, where OX2 is the developer until the project is completed and Ålandsbanken Fondbolag is a long-term partner. Noatun Nord would comprise 360 wind turbines to produce 20 TWh/year of electricity.
In November 2021, Ålandsbanken and OX2 began a collaboration regarding an offshore wind plant south of Åland, which is expected to generate 20 TWh/year. The two projects are located within the Åland Sea Plan's defined areas for wind power and grid solutions for the distribution of electricity to Åland, Finland, Sweden and Estonia.
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