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Ikea owner buys into Swedish offshore wind with hydrogen and e-fuel potential - Recharge

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Ikea owner buys into Swedish offshore wind with hydrogen and e-fuel potential | Recharge

Ingka Investment, the investment arm of Ikea owner Ingka Group, has agreed to buy a 49% stake in two more large Baltic Sea wind projects in Sweden from OX2, which could combine offshore wind with hydrogen and e-fuel production.

The Nordic developer will receive an initial payment of about SKr230m ($22.3m) for the stakes in the Pleione project east of the Baltic Sea Island of Gotland and the Neptunus project southeast of the southern Swedish province of Blekinge, which have a combined capacity of 2.4GW.

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Related Knowledge Center: ENERGY BASICS: hydrogen

State of Play

Hydrogen, long seen as a theoretical if not practical alternative to petroleum-based transportation fuels, is once again having a day in the sun as industries promote “green hydrogen,” produced using renewable resources.

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