In an interview with VG247, Remedy’s Thomas Puha confirmed that the team was working on Alan Wake 2 years ago, however this project simply did not pan out. Puha did not provide any additional details but he re-confirmed that Remedy owns the Alan Wake IP.
As Puha told VG247:
“We were working on Alan Wake 2 years ago and it just didn’t pan out, so there’s nothing – we’re just booked solid for the next couple of years, really. We do own the Alan Wake IP, but it’s never quite as simple as that, but yeah, we do own it.”
From the looks of it, Remedy experimented with Alan Wake 2 however this project never took off. Whether this was due to a Microsoft deal (Microsoft owns the distribution rights for Alan Wake and Quantum Break) or due to a product that was not up to Remedy’s standards is unknown.
As Puha concluded, only thing stopping Remedy from creating Alan Wake 2 is time, money, and resources. However, and since Remedy is currently trying to establish a brand new IP franchise with Control, we are pretty sure that Alan Wake 2 won’t be happening anytime soon.