Euroports Group and Noatun project companies, jointly held by OX2 and Ålandsbanken Offshore Wind I LP, a fund managed by Ålandsbanken Funds Ltd, have signed a Letter of Intent to establish Koverhar Harbour in Hanko as a logistics hub for the Noatun North offshore wind farm project, with an option for Noatun South, according to the company's release.
The agreement aims to support Finland’s offshore wind infrastructure by securing port capacity for the industry’s growth.
The Noatun North project is expected to include up to 250 turbines with a total capacity of up to 4000 MW.
Koverhar Harbour’s use for the project is scheduled to begin in 2030, requiring capacity for storage, assembly, and transport of wind turbine components. The harbour’s existing infrastructure requires limited adaptations and investments to meet the project’s needs.
The Letter of Intent provides a framework for assessing storage, assembly, and logistical requirements. Additionally, Euroports and the Port of Hanko have an exclusive agreement to explore Koverhar Harbour’s long-term development to address the offshore wind sector’s demands.
Euroports Group is a port infrastructure and logistics company operating over 50 terminals across Europe and Asia. It handles more than 70 million tonnes of bulk, breakbulk, and liquid cargo annually, providing services for industries including offshore wind, forestry, agriculture, and energy. Headquartered in Belgium, Euroports focuses on tailored logistics solutions and supply chain management to support global trade and renewable energy projects.
OX2 is a renewable energy developer based in Stockholm, Sweden, specializing in onshore and offshore wind, solar power, and energy storage. The company manages a diverse portfolio of projects across ten European markets and Australia, developing and constructing renewable energy facilities. With approximately 500 employees, OX2 is owned by EQT, a global private equity firm, and has been listed on Nasdaq Stockholm since 2022.
The Port of Hanko is Finland’s southernmost port, located in Hanko, and serves as a key hub for trade and logistics in the Baltic Sea region. Covering 600 hectares, with 90 hectares dedicated to port activities, it supports international commerce and renewable energy initiatives.