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In November 2021 OX2 and Ålandsbanken Fondbolag started a cooperation concerning a large-scale offshore wind power project south of Aland. This cooperation is now expanded with another offshore wind power project, this time north of Aland.

The project will be run in accordance with the earlier model, in a joint venture where OX2 is the developer until the project is completed and Ålandsbanken Fondbolag will be a long-term part owner via a fund that makes it possible for the public to invest in the project. The two projects will be named Noatun Nord and Noatun Syd. To be realised the projects will need all necessary permits from the local government of Aland and other relevant authorities.
The project Noatun Nord is in an early phase of development and would once completed consist of another 360 turbines generating about 20 TWh annually. Both Noatun Nord and Noatun Syd are part of the defined areas for wind power in the maritime planning of Aland as well as grid solutions for the distribution of electricity to Aland, Sweden, Finland and Estonia. If both Noatun Syd and Noatun Nord is realized it would an opportunity to produce 40 TWh annually.
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