2024-11-21

http://w3.windfair.net/wind-energy/pr/42451-ox2-offshore-sale-wind-farm-ingka-investments-mw-sweden-development-merger

News Release from OX2

Wind Industry Profile of

11/10/2022

Merger clearance obtained for OX2’s sale of 49 percent of offshore wind projects to Ingka Investments

On August 29, OX2 announced that an agreement had been signed with Ingka Investments for the sale of 49 percent of three offshore wind projects in Sweden, with a potential capacity of 9,000 MW.

The deal was subject to customary competition merger filing approval. Merger clearance has now been obtained and the transaction is expected to close within two weeks.

According to the agreement, OX2 will receive an initial payment of approximately 58 MEUR which corresponds to 630 MSEK*. After permits are obtained and if both parties agree to continue the development, OX2 will receive a pre-agreed additional payment of up to EUR 100k corresponding to approximately 1.1 MSEK per MW for 49 percent of the planned total capacity.

*EUR/SEK exchange rate 10.85