A government commission charged with reviewing and speeding the process for authorising new wind farms said Friday that developing offshore wind projects near Sweden's coastlines was not commercially feasible at this time.

The head of the commission stated that the switch to an offshore auction system, which is widely used in other countries would not lead to the construction of more wind parks.

Magnus Hermansson stated that "the analysis shows that there are no areas which can be developed commercially in today's market conditions."

The Swedish government has stated that it will double the electricity produced in Sweden over the next 20 years and wants to build 10 nuclear power plants.

The government has rejected 13 out of 14 offshore wind projects, citing concerns from the military regarding security in the Baltic Sea.

The current situation in Sweden is that offshore wind developers can apply anywhere, but this has resulted in a large number of applications being refused. (Reporting and editing by Terje Solsvik).

(source: Reuters)