Hexicon enters agreement to acquire remaining 50% of shares in Mareld Green Energy

Following the transaction, Hexicon will own 100% of Mareld Green Energy AB. Hexicon will acquire the shares for an upfront consideration of SEK 1 and an additional milestone-based consideration of €4.5 million, payable if the project is awarded an offtake contract in a future auction.

Through the acquisition, Hexicon will take full ownership and control of Mareld, a strategically important project in the company’s Swedish offshore wind portfolio.

Mareld is currently at a critical stage in its development. The Swedish Government is expected to make a final decision on the project’s application under the Swedish Economic Zone Act (SEZ). The application was recommended for approval by the County Administrative Board of Västra Götaland in June 2024.

When fully developed, Mareld has the potential to generate up to 12 TWh of electricity annually, equivalent to the annual electricity consumption of approximately 2 million households. With electricity demand in Western Sweden expected to double by 2030, driven by the industrial transition, Mareld could play an important role in securing the region’s supply of renewable electricity.

Marcus Thor, CEO of Hexicon, commented: “Mareld has the potential to become one of Sweden’s largest offshore wind farms and to play an important role in meeting growing electricity demand in Western Sweden and supporting the industrial transition. By taking full ownership, we strengthen our ability to advance the project and realise its long-term value. We now look forward to the Government’s decision on the remaining permits.”

The transaction is in line with Hexicon’s strategy to develop, optimise and realise value across its project portfolio. By consolidating ownership of Mareld, Hexicon increases its flexibility in the continued development of the project and in planning for its long-term value creation.

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