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In Sweden, OX2 sells 49% of three wind projects

In Sweden, OX2 announces the signature of an agreement with Ingka Investments for the sale of 49% of three offshore wind projects.

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In Sweden, OX2 announces the signature of an agreement with Ingka Investments for the sale of 49% of three offshore wind projects.

A sale of three projects

In Sweden, the agreement between OX2 and Ingka Investments concerns a potential capacity of 9000MW. Theagreement was subject to the usual approval of the competition’s merger file. In addition, the authorization of the merger occurred in November 2022.

Under the agreement, OX2 will receive an upfront payment of approximately €58 million. Once the permits are obtained and if both parties agree to proceed with the development, OX2 will receive an additional payment. Thus, OX2 could receive an additional €100,000/MW for 49% of the overall capacity.

A European company

OX2 develops, builds and sells onshore and offshore wind farms and solar photovoltaic farms. In addition, OX2 offers post-completion management of wind and solar farms. OX2’s portfolio includes wind and solar projects developed in-house and acquired at various stages of development.

OX2 operates in eleven markets in Europe: Sweden, Norway, Finland, Estonia, Lithuania, Poland, Romania, France, Spain, Italy and Greece. The company has nearly 300 employees. On the other hand, sales in 2021 amounted to about SEK 5 billion.

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