Eolus Vind and Simply Blue Form Joint Venture

Deal In Brief

Eolus and Simply Blue Group have agreed to co-develop floating offshore wind in The Baltic Sea. The joint venture named SeaSapphire is commencing the development of four commercial scale floating offshore wind parks in The Baltic Sea –two projects in Sweden and two in Finland. Eolus and Simply Blue Group each own 50% of the shares in SeaSapphire through which the partnership will take place

The joint venture projects are under development, and a strong focus is being put on supply chain development to provide opportunities for local job creation and exploring possibilities of alternative use of produced energy. If all were to go ahead according to current plans, the projects would produce up to 40TWh/year helping to address Sweden’s and Finland’s ambition and need to increase green electricity generation

SeaSapphire, powered by Eolus and Simply Blue Group consists of four floating wind projects: (A) Skidbladner – located 100 km southeast of Stockholm; (B) Herkules – located 60 km southeast of The Island of Gotland; (C) Un-disclosed – located in Finnish exclusive economic zone in the Baltic Sea; (D) Wellamo –located 90 km outside Satakunta Region.

Deal Type	Partnership
Sub-Category	Joint Venture
Deal Status	Completed: 2022-11-30

Deal Participants

Partner 1 (Company)	Simply Blue Group
Partner 2 (Company)	Eolus Vind AB

Deal Rationale

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