Strategic development afoot for Finnish port

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 (LoI) to establish Koverhar Harbour at Port of Hanko as a key logistics station.

“The development of Koverhar Harbour into a hub for offshore wind logistics aligns perfectly with our long-term vision for the Port of Hanko,” said Anders Ahlvik, CEO of the Port of Hanko.

”This collaboration strengthens our role as a key enabler of Finland’s renewable energy transition and will drive significant economic and infrastructure development in the region.”

Significant project

This collaboration marks a significant step in strengthening Finland’s offshore wind infrastructure and securing essential port capacity to support the industry’s expansion.

The Noatun North Project is expected to comprise of up to 250 turbines with a total capacity of up to 4000 MW.

The use of Koverhar Harbour for this project is planned to start in 2030, requiring a significant port capacity to accommodate the storage, assembly and transport of key wind turbine components.

Unlike a greenfield development, Koverhar Harbour already possesses the fundamental infrastructure needed for the offshore wind logistics. With limited adaptations and targeted investments, it can be quickly optimised to serve the industry, making it a highly efficient and cost-effective solution.

The success of this initiative will of course require close cooperation between the parties to assess and develop the necessary port infrastructure.

Subsequently, the LoI outlines a framework for evaluating storage, assembly and logistical needs.

In addition, the Port of Hanko and Euroports have a separate exclusive agreement to explore the long-term development of Koverhar Harbour to meet the growing demands of offshore wind projects.