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The focus of this study was to analyze offshore wind power’s future options and maximum value creation for Åland, covering the most feasible solutions for exporting of green electricity, feasibility of hydrogen production and transmission, alternative strategies, and steps for developing offshore wind-based business in Åland, as well as assessment of risk and opportunities and propose next steps for Åland with offshore wind. Beside this study, a review of existing offshore wind power was made as a master’s thesis. The large wind farm areas F4 and F6 in the northern side of Åland with capacity of about 4 GW and annual generation of 20 TWh turned out to be the most feasible when considering transmission of electricity. Åland wind farms locate in the area, where the farm connection could provide possible basis for interconnection of two power systems, too. The additional cost for a solution where energy transmission from wind farm could be done to both Finland and Sweden is approximately +5 €/MWh compared to the solution where wind capacity is realized only to one direction. The green hydrogen potential for the region is about 18 TWh (12 TWh North, 6 TWh South). For reference, Finland’s annual natural gas consumption is about 24 TWh. Hydrogen production at sea and pipeline transmission to continental Finland is estimated to be about 20% cheaper compared with alternative case based on electricity transmission to continent and conversion to hydrogen onshore. Comparing the electricity and hydrogen as products, electricity creates less interdependencies because the available grid offers access to electricity market. However, in the beginning, transmission of hydrogen is tied to one-to-one connections, which makes parties dependent on each other’s. Identification of potential hydrogen customers and applications is necessary for successful implementation. The proposed road map is to finish preliminary studies and go into development of wind farm in the area F6. During the development of the wind farm, uncertainties related to market for electricity, hydrogen and P2X products, as well as regulation for hydrogen and P2X, will decrease. Publishers version