Connection

popular articles

TotalEnergies Faces Historic Decline in European Refining Margins
Denmark Struggles to Meet Gas Storage Targets for Winter 2024-2025
Trafigura Convicted in Switzerland for Foreign Public Official Corruption
Belgium: The government aims to double nuclear capacity by 2035
Sungrow and MSR-GE launch 100 MW BESS project in Malaysia

Ingka Acquires 9,000 MW of OX2

Swedish company OX2 has sold assets from its offshore wind development portfolio to Ingka Group.

Please share:

Ingka Investments invests in renewable energies, and more specifically in offshore wind projects. The ongoing transaction between OX2 and Ingka Investments represents, for the latter, important development prospects in the Baltic.

In addition, the profits generated by this operation will result in a revaluation of OX2’s revenues for the year 2022. The case will be concluded after the verification of competition requirements within a probable period of two months.

Ingka invests in 3 projects in Sweden

The portfolio to be divested by OX2 includes three wind projects with an initial combined capacity of 8,300 MW. This value has been increased to 9,000 MW in order to comply with the requests issued by Ingka. Thus, the three main sites that make up this offer are:

  • Galatea-Galene in the Kattegat area (6 to 7 TWh/year).
  • Triton in the Baltic Sea (7.5 TWh/year).
  • Aurora between the islands of Öland and Gotland (24 TWh/year).

The cumulative potential of these projects is thus estimated at nearly 38 TWh. However, they are not at the same stage of development. While Triton and Galatea-Galene are already awaiting permit validation, Aurora is still in an early phase of development.

Eventually, the installations at the three sites will provide the equivalent of 25% of the energy consumed in Sweden in 2021.

Renewing the cooperation with OX2

The two companies have been partners since 2010, Ingka has since acquired 10 projects sold by OX2 in Sweden, Finland, Lithuania and Poland. The latest being the Recz and Wysoka solar farms in June 2022.

The development and installation is done by OX2. In addition to the contractual payment of 56 million euros, the company will receive a premium of 100,000 euros per MW upon sale.

The transaction is expected to have a positive impact on OX2’s revenues in the second half of 2022. The operating results for the year 2022, after revaluation, are estimated at MSEK 1,000.

Ingka Investments’ managing director Peter van der Poel announces:

“This cooperation is a bold move in expanding our investment activities to address climate footprint reduction far beyond our own consumption and into our value chain. We are increasing our global investments and commitments in renewable energy from more than €3 billion today to €6.5 billion in 2030.”

Register free of charge for uninterrupted access.

Publicite

Latest news

Hydro-Québec launches a 10 G$ energy efficiency plan by 2035
The UK and Eni finalize financing for CO2 storage project in the Irish Sea
Washington criticises anti-fossil policies at IEA summit
Countries accused of overstating carbon sinks to slow energy transition
Saudi Arabia reduces crude consumption for power generation by 2030

Recently published in

Mainstream sells 675 MW of wind and solar projects to Celsia in Colombia

Mainstream Renewable Power sold its entire Colombian portfolio to Celsia, marking its exit from the country to focus operations on three strategic markets.
Ocean Winds equips floating wind farm with Biohut modules to attract marine life
Ocean Winds has completed the installation of 32 Biohut modules on a floater of its EFGL pilot project, marking a global first for floating offshore wind incorporating artificial habitats for biodiversity.
en_1140290950540-11
Ocean Winds equips floating wind farm with Biohut modules to attract marine life
Ocean Winds has completed the installation of 32 Biohut modules on a floater of its EFGL pilot project, marking a global first for floating offshore wind incorporating artificial habitats for biodiversity.
en_1140290950540-11
Connecticut: Study Reveals the Economic Impact of the Offshore Wind Industry
A recently published study shows that over 50 Connecticut companies are actively participating in offshore wind projects, with growth potential for 450 other companies in the region.
en_1140290950540-10
Connecticut: Study Reveals the Economic Impact of the Offshore Wind Industry
A recently published study shows that over 50 Connecticut companies are actively participating in offshore wind projects, with growth potential for 450 other companies in the region.
en_1140290950540-10
The United States suspends Equinor’s Empire Wind offshore wind project off New York
US authorities have ordered the halt of Equinor's Empire Wind 1 offshore wind project located off New York, citing insufficient environmental analysis according to the Biden administration. Construction had been underway since 2024.
en_1140290949540-11
The United States suspends Equinor’s Empire Wind offshore wind project off New York
US authorities have ordered the halt of Equinor's Empire Wind 1 offshore wind project located off New York, citing insufficient environmental analysis according to the Biden administration. Construction had been underway since 2024.
en_1140290949540-11

DEME acquires Havfram for €900 mn to strengthen its offshore wind position

Belgian group DEME has signed an agreement to acquire Norway’s Havfram for €900 mn, consolidating its fleet and global presence in the offshore wind market.
Energiequelle secures 143 MW in German onshore wind tender
Developer Energiequelle has secured five projects totalling 143 MW through a national onshore wind tender, expanding its footprint across four German federal states.
en_1140290971540-2
Energiequelle secures 143 MW in German onshore wind tender
Developer Energiequelle has secured five projects totalling 143 MW through a national onshore wind tender, expanding its footprint across four German federal states.
en_1140290971540-2
New wind installations in the United States fall to lowest level in a decade
The United States recorded its lowest volume of wind installations in a decade in 2024, according to Wood Mackenzie data, due to tax timing effects and persistent regulatory uncertainty.
en_1140290986540
New wind installations in the United States fall to lowest level in a decade
The United States recorded its lowest volume of wind installations in a decade in 2024, according to Wood Mackenzie data, due to tax timing effects and persistent regulatory uncertainty.
en_1140290986540
Sunly, VALOREM and Deep Wind Offshore launch 1 GW offshore wind project in Estonia
Three European energy sector players are partnering to develop an offshore wind farm near Saaremaa, reinforcing Estonia’s strategic position in the Baltic region.
en_1140290968540-2
Sunly, VALOREM and Deep Wind Offshore launch 1 GW offshore wind project in Estonia
Three European energy sector players are partnering to develop an offshore wind farm near Saaremaa, reinforcing Estonia’s strategic position in the Baltic region.
en_1140290968540-2

Sanofi signs 20-year contract with RWE for 21 GWh wind power supply

RWE has signed a 20-year electricity supply agreement with Sanofi, committing to deliver 21 GWh annually from a wind farm located in the Marne region.
RWE wins 151 MW in latest French onshore wind tender
RWE led the latest onshore wind tender launched by the Commission de régulation de l’énergie, securing seven projects representing a prorated capacity of 151 megawatts.
en_1140290972540-2
RWE wins 151 MW in latest French onshore wind tender
RWE led the latest onshore wind tender launched by the Commission de régulation de l’énergie, securing seven projects representing a prorated capacity of 151 megawatts.
en_1140290972540-2
French court suspends wind farm after death of golden eagle
The Montpellier court has ordered a one-year suspension of the Bernagues wind farm, finding Énergie Renouvelable du Languedoc responsible for the death of a golden eagle, a protected species, in January 2023.
en_1140290958540-4
French court suspends wind farm after death of golden eagle
The Montpellier court has ordered a one-year suspension of the Bernagues wind farm, finding Énergie Renouvelable du Languedoc responsible for the death of a golden eagle, a protected species, in January 2023.
en_1140290958540-4
HSM Offshore Energy secures EPCIC contract for East Anglia TWO
ScottishPower Renewables awards HSM Offshore Energy the design and construction of the offshore substation and its foundation for the East Anglia TWO wind farm off the Suffolk coast.
en_1140290971540
HSM Offshore Energy secures EPCIC contract for East Anglia TWO
ScottishPower Renewables awards HSM Offshore Energy the design and construction of the offshore substation and its foundation for the East Anglia TWO wind farm off the Suffolk coast.
en_1140290971540

Yeu-Noirmoutier: €2.5bn for an offshore wind farm with industrial pace

Ocean Winds is leading the installation of 61 offshore wind turbines off the Vendée coast, with up to 600 workers mobilised in Saint-Nazaire and commercial commissioning targeted by the end of November.
Chantiers de l’Atlantique doubles revenue with offshore wind power push
Chantiers de l’Atlantique invests €100 mn to expand its production capacity in offshore wind, a strategic segment now central to its industrial recovery.
en_1140290965540
Chantiers de l’Atlantique doubles revenue with offshore wind power push
Chantiers de l’Atlantique invests €100 mn to expand its production capacity in offshore wind, a strategic segment now central to its industrial recovery.
en_1140290965540
Montpellier court orders temporary shutdown of EDF-run wind farm
The Aumelas wind farm, operated by EDF Renouvelables, must halt operations for four months following a court ruling tied to the protection of endangered species in Hérault.
en_1140290951540-4
Montpellier court orders temporary shutdown of EDF-run wind farm
The Aumelas wind farm, operated by EDF Renouvelables, must halt operations for four months following a court ruling tied to the protection of endangered species in Hérault.
en_1140290951540-4
PNE Group secures approval for 185 MW wind and solar projects in Germany
PNE Group has obtained the necessary permits to develop two onshore wind farms in Hesse and a ground-mounted solar power plant in Brandenburg, totalling 184.8 MW of capacity.
en_1140290949540-5
PNE Group secures approval for 185 MW wind and solar projects in Germany
PNE Group has obtained the necessary permits to develop two onshore wind farms in Hesse and a ground-mounted solar power plant in Brandenburg, totalling 184.8 MW of capacity.
en_1140290949540-5

VSB France commissions 12 MW wind farm in Ille-et-Vilaine for Blue EnerFreeze

The La Lande wind farm, developed by VSB France for Blue EnerFreeze, has begun operations in Ille-et-Vilaine with a capacity of 12 MW, intended to cover 6% of STEF Group's annual electricity consumption in France.
French court blocks major onshore wind farm led by EDF in the Ardennes
A 63-turbine project developed by EDF Renouvelables and Renner Energies was cancelled on appeal in Nancy due to visual saturation, despite over 20 years of development.
en_1140290944540-3
French court blocks major onshore wind farm led by EDF in the Ardennes
A 63-turbine project developed by EDF Renouvelables and Renner Energies was cancelled on appeal in Nancy due to visual saturation, despite over 20 years of development.
en_1140290944540-3
Aker Horizons and Mitsui secure €128mn funding for Mainstream
Aker Horizons and Mitsui have finalised a structured financing agreement with DNB to support Mainstream Renewable Power’s targeted strategy in South Africa, Australia and the Philippines.
en_1140291011540
Aker Horizons and Mitsui secure €128mn funding for Mainstream
Aker Horizons and Mitsui have finalised a structured financing agreement with DNB to support Mainstream Renewable Power’s targeted strategy in South Africa, Australia and the Philippines.
en_1140291011540
Octopus Energy acquires 10% stake in East Anglia One offshore wind farm from Macquarie
Octopus Energy has acquired a 10% stake in the East Anglia One offshore wind farm, expanding its European portfolio and surpassing $2 billion in offshore wind investments.
en_1140291019540
Octopus Energy acquires 10% stake in East Anglia One offshore wind farm from Macquarie
Octopus Energy has acquired a 10% stake in the East Anglia One offshore wind farm, expanding its European portfolio and surpassing $2 billion in offshore wind investments.
en_1140291019540

Eolink to deploy floating wind demonstrator for grid connection in 2027

French company Eolink plans to launch a 5 MW floating wind turbine in Brest, targeting a 2027 grid connection as part of the sector’s industrial progression.
EDF Renewables deploys single platform to monitor 5GW of wind turbines
EDF Renewables is centralising condition monitoring of over 5GW of wind turbines through ONYX Insight’s fleetMONITOR platform, reinforcing its global predictive maintenance strategy.
en_1140290954540-2
EDF Renewables deploys single platform to monitor 5GW of wind turbines
EDF Renewables is centralising condition monitoring of over 5GW of wind turbines through ONYX Insight’s fleetMONITOR platform, reinforcing its global predictive maintenance strategy.
en_1140290954540-2
Boralex commissions its first 106 MW wind farm in Scotland
Boralex has launched operations at the 106 MW Limekiln Wind Farm in Scotland, marking its first operational facility in the United Kingdom, supported by a 15-year public contract and a power purchase agreement.
en_1140290943540
Boralex commissions its first 106 MW wind farm in Scotland
Boralex has launched operations at the 106 MW Limekiln Wind Farm in Scotland, marking its first operational facility in the United Kingdom, supported by a 15-year public contract and a power purchase agreement.
en_1140290943540
Nexif Ratch Energy secures key permit for 500 MW offshore wind project in the Philippines
Nexif Ratch Energy has received preliminary environmental approval from the Philippine government to initiate technical studies for its 500 MW San Miguel Bay offshore wind project.
en_1140290950540
Nexif Ratch Energy secures key permit for 500 MW offshore wind project in the Philippines
Nexif Ratch Energy has received preliminary environmental approval from the Philippine government to initiate technical studies for its 500 MW San Miguel Bay offshore wind project.
en_1140290950540

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS