OX2 sells stakes in Swedish offshore wind farms

Image: PixabayImage: Pixabay
OX2 has sold its three planned offshore wind farms off the coast of Sweden to Ingka Investments. The projects have the potential to produce up to 38 TWh combined, once operational, corresponding to more than 25% of the electricity consumed in Sweden 2021.

Official Press Release OX2:

OX2 sells stake in 9,000 MW offshore wind development portfolio to Ingka Investments and updates earnings guidance for 2022

Wind Industry Profile of
OX2 sells stake in 9,000 MW offshore wind development portfolio to Ingka Investments and updates earnings guidance for 2022

OX2 sells its first offshore wind projects to Ingka Investments, who acquires a 49 percent stake in three projects in Sweden. The projects will have the potential to reach a total installed capacity of up to 9,000 MW.

OX2 will receive an initial payment of 610 MSEK. Following successful permitting of the project(s), and if both parties at that point in time agree to continue development of the project(s), OX2 will receive a pre-agreed price equivalent of up to 100k EUR per MW for 49 percent of the planned total capacity. The transaction is expected to impact operating income positively with 584 MSEK1 in the second half of 2022. Following the completion of the transaction, OX2 expects operating income for the full year 2022 to be slightly above 1,000 MSEK. The three... ... More: Official Press Release OX2

OX2, Ingka Group, IKEA, retailer, investment, project, Sweden, capacity, MW, offshore, wind farm, planned, developer, TWh, applications

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