The Estonian Consumer Protection and Technical Regulatory Authority (CPTRA) has awarded the Saare 1 development site to the French developer Oxan Energy, after concluding the lease round on January 23. The win is a first for Oxan, securing the company a right to develop a project on a site and apply for the necessary approvals. The winning bid proposes a 900 MW floating project, with an estimate of 60 turbines and a goal of delivering first power by the end of 2032.

Three developers had expressed interest in the site, with the two others being Luxcara and OÜ Utilitas. Although the two others had expressed interest, Oxan Energy was the sole bidder in the round, offering a bid of €1.32m/MW. The Saare 1 site was originally put up for auction last year, but was put on hold due to the lack of interest from developers. The next step on the site for Oxan will be to conduct environmental and technical studies, starting with the environmental impact assessment (EIA).

Oxan Energy is also qualified to bid in the French AO9 round, aiming to award 2500 MW of project capacity by the end of 2025, or start of 2026. The company has partnered with Swedish Ingka group for the round.

Image credit: CPTRA