Press release -

Strong development for Hexicon in Italy - concession applications filed for several floating wind farms

Hexicon is operating in Italy through its joint venture, AvenHexicon Srl, with partner Avapa Energy Srl. AvenHexicon is currently in the process of developing five sites situated around the coasts of Sardinia, Sicily, and Puglia. Grid applications have been filed for all five sites, State Maritime Concession applications have been submitted, with the first for the area in the Strait of Sicily, a 1,200 MW offshore wind farm, having been published.

With a large coastline and good wind resources, especially in the deep waters of the Mediterranean Sea, Italy has strong potential for floating wind. Recently, GWEC highlighted the country as one of the top 5 emerging markets for offshore wind. The country is aiming to generate 55% of its total electricity generation from renewables by 2030. Hexicon’s 50/50 joint venture AvenHexicon has just obtained the publication of the first one of several applications to the Italian authorities for State Maritime Concession for a 1,200 MW offshore wind farm outside of Porto Empedocle in south Sicily. The offshore wind farm in the Strait of Sicily is set to contribute to the Italian Government goals of deployment of 6-7 GW of new yearly renewable capacity to 2030.

The five potential development sites are situated around the coasts of Sardinia, Sicily, and Puglia. Grid connections were applied for earlier this year, and with the Italian government signaling an ambition to take measures to speed up the processes for renewable energy projects, to faster cut dependence on Russian gas, the market is ready to meet the rising demand.

"This is certainly the first step in the positive and constructive process that we are prepared to follow to complete the permitting process with full involvement of all concerned stakeholders – from local communities to industrial groups, environmental groups, and the transmission network operator,” said Alberto Dalla Rosa, CEO at AvenHexicon.

“Hexicon is active in several countries with multiple development sites, Italy being one of them. The signals are strong from the authorities, so it is full speed ahead for all projects in the area. We will continuously submit applications for all our sites in the near future and have great dedication in moving the process along,” said Marcus Thor, CEO at Hexicon.

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About Hexicon

Hexicon is a world-leading project developer and technology provider in the emerging sector of offshore floating wind. As a project developer, Hexicon develops projects, partnering with regional experts. As a technology provider, Hexicon provides its patented floating wind design – TwinWind – which consists of one foundation with dual turbines. The innovative twin turbine design enables more turbines per sea area, which increases the energy yield and reduces the environmental impact. The company operates in several markets across Europe, Africa, Asia and North America. Hexicon is listed on Nasdaq First North Premier Growth Market (ticker HEXI). Certified Adviser is FNCA Sweden AB, info@fnca.se, +46 (0) 8528 00 399.

www.hexicongroup.com

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Hexicon forms Joint Venture and licenses its technology for floating wind power in Italy


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Hexicon has created a 50-50 Joint Venture – AvenHexicon SRL – with Avapa Energy with the purpose of developing floating wind power projects in Italian waters. In addition, Hexicon will license its patented technology to AvenHexicon for use in its projects and by third parties. Italy is one of the main recipients of the EU Green Deal and is hence assessed to be a key mar