OX2 sells 145 MW wind farm in Sweden for 2 billion SEK

OX2 has signed a contract to sell and construct the Klevberget wind farm outside of Sundsvall in northern Sweden to Renewable Power Capital Ltd with a total contract value of 2 billion SEK, including technical and commercial management services. The wind farm will have an installed effect of about 145 MW.

OX2 acquired the project rights in November 2021 and construction is starting immediately. The handing over of the completed wind farm is planned for the second half of 2023. The wind farm will consist of 24 turbines with an installed effect of about 145 MW

• The collaboration with the municipality and local stakeholders has been key to make this wind farm a reality in a short time. The wind farm will give a substantial contribution of electricity from renewable energy to the region, says Hillevi Priscar, Country Manager, OX2.
• This is the fourth wind farm OX2 has sold to Renewable Power Capital in less than two years, demonstrating the high level of confidence between the parties, says Paul Stormoen, CEO, OX2.
• OX2 are a market leader in large-scale wind development and construction, and we are thrilled to expand our relationship and mark our expansion into Sweden with another long-term investment that can compete without subsidies in the Nordic region, says Bob Psaradellis, CEO, Renewable Power Capital.

Once commissioned, OX2 will be responsible for the technical and commercial management of the project under a 15-year agreement, optimizing the production and supervising its safe operations.

*SEK value is based on current rate of EUR/SEK 10.62

Facts:

• Total installed effect, 145 MW and the electricity production is estimated to be about 419 GWh per year, corresponding to the annual consumption of about 46,000 households (on the assumption of household electricity consumption of 9032 kWh per year and household)

OX2 develops and sells wind farms and solar parks. Since being founded in 2004, OX2 has taken a leading position in the area of large-scale onshore wind power, having developed and sold around 2.5 GW in Sweden, Finland, Norway and Poland and to customers such as Allianz, Ardian and IKEA. During the period 2014-2020, OX2 established more onshore wind power in Europe than any other developer. By constantly increasing the availability of renewable energy, OX2 is driving the transition to a more sustainable future. Based in Stockholm, Sweden, OX2 runs operations in Sweden, Finland, France, Italy, Lithuania, Norway, Poland, Romania, and Spain. Net sales in 2020 amounted to SEK 5,201 million, with EBIT of SEK 416 million. OX2 is listed on the Nasdaq First North Premier Growth Market. FNCA Sweden AB is Certified Adviser to OX2. Phone: +46 8-528 00 399, e-mail: [email protected]. For more information, please visit www.ox2.com