Oxan Energy, a developer of offshore wind projects based in France, is focusing on floating technology designed to operate in depths greater than 60 metres. Although it is an emerging sector, it shows signs of promising growth.
The company participates in offshore wind energy tenders and develops projects from their early stages. In November 2024, Oxan Energy, together with its strategic partner Ingka Investments, secured pre-qualification for the AO9 tender in France.
In December 2024, they were also pre-qualified for the “Saare 1” tender in Estonia, which will take place from 21st to 23rd January. The Saare 1 area spans 88 km² and is considered ideal for turbine installation, according to Estonia’s maritime area plan. The project has a potential capacity of 900 MW and a water depth of up to 85 metres, located 60 km off the coast of Saaremaa, the country’s largest island.
“We are focused on upcoming or in-progress tenders, but we could also participate in development projects that could accelerate their delivery,” says Thierry Daugeron, Development Director at Oxan Energy.
Global Expansion and Oxan Energy’s Objectives in Floating Offshore Wind
In the short term, the company is focused on optimising its pre-qualified projects and strengthening its presence in Europe, with a view to future tenders in strategic markets such as Spain, Portugal, Malta, Italy, and Greece.
Furthermore, Daugeron notes that they are aiming to position themselves in North Sea markets such as the United Kingdom, Ireland, and Norway.
According to the executive, the long-term goal is to become an Independent Power Producer (IPP), integrating electricity generation and sales. Additionally, Oxan Energy is considering active participation in projects at various stages of development and in markets outside Europe.
“Eventually, we will explore other marine energy sources such as tidal, wave, and floating solar. We are looking for sustainable solutions using natural resources in deep waters,” he explains.
Europe as the Core of Floating Wind Development
Europe currently boasts 34 GW of installed offshore wind capacity, including over 200 MW of floating wind. Daugeron emphasises that 80% of the world’s offshore wind resources are in deep waters, making floating wind technology crucial for achieving global decarbonisation targets.
The United Kingdom, with 15 GW of installed capacity, leads in offshore wind, owing to “clear ambitions and a favourable regulatory framework.” Norway, meanwhile, is home to the world’s largest floating wind farm, with an installed capacity of 88 MW, powered by 11 turbines.
France and Estonia are emerging as key markets for Oxan Energy, with increasingly robust regulatory frameworks that facilitate the installation of sustainable infrastructure.
“Several countries have announced ambitious plans for offshore wind development, while supporting the supply chain to ensure readiness for large-scale implementation, which is key to achieving European targets,” Daugeron points out.
Challenges in the Floating Sector and the Path to Sustainability
The development of floating wind faces significant challenges, including the optimal integration of turbines, managing larger turbines, and the replacement of key components.
Another major challenge is expanding port infrastructure. According to Daugeron, ports play a critical role in hosting construction activities, developing the supply chain, and ensuring maintenance of wind farms. “Investments are essential for the success of the European floating offshore wind industry,” he adds.
Additionally, he highlights that reducing the Levelised Cost of Energy (LCOE) is crucial for establishing this technology as a competitive alternative to other renewables. “The LCOE for offshore wind is decreasing, making it an accessible and attractive renewable source,” concludes the executive.
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