Project is expected to begin operations in the early-2030s
OX2 launches 1.9GW Swedish green energy hub
The Neptunus project could produce up to 225,000t/yr of green hydrogen
Stockholm-headquartered OX2 has started development on Neptunus, a 1.9GW offshore wind and hydrogen hub in the southern Baltic Sea. The project is expected to begin operations in the early-2030s. The project will produce 8TWh of electricity—equivalent to 5pc of Sweden’s current electricity consumption—and could produce up to 225,000t/yr of green hydrogen. OX2 will also investigate if the oxygen, a byproduct of electrolysis, can be used to oxygenate the bottom waters of the Baltic Sea in the project area. “The shift towards hydrogen, fossil-free industries and general electrification demands huge amounts of renewable energy, and Neptunus is strategically located to play a key role in this tra
Also in this section
9 March 2026
Hydrogen has not stalled in the UK because the technology does not work. The problem is that the system around it does not yet move at the speed required
4 March 2026
Turmoil in Middle East reminds nascent clean hydrogen sector that its future prospects are dependent on global energy markets and geopolitics
25 February 2026
Low-carbon hydrogen and ammonia development is advancing much more slowly and unevenly than once expected, with high costs and policy uncertainty thinning investment. Meanwhile, surging energy demand is reinforcing the role of natural gas and LNG as the backbone of the global energy system, panellists at LNG2026 said
18 February 2026
Norwegian energy company has dropped a major hydrogen project and paused its CCS expansion plans as demand fails to materialise
