OX2 and Marguerite sign 42MW wind power deal

2018-09-28

OX2 Raskiftet wind farm. Photo: Joakim Lagercrantz

Installation of turbine at construction of the OX2 wind farm Raskiftet in Norway. Photo: Joakim Lagercrantz

Construction will start immediately with an estimated completion of the farm by late 2019 or early 2020. The expected average production is approximately 160 GWh per year.

“This investment follows our renewable strategy to focus on low-subsidy projects with highly competitive LCOE. We, at Marguerite, are excited about our future collaboration with OX2”, stated William Pierson, Partner at Marguerite.

“We are very pleased to establish this relationship with Marguerite. Reaching construction start for this project is once again a proof of OX2’s core strength and focus; technical and financial wind farm optimisation and supply of full-wrap EPC agreements”, added Paul Stormoen, Managing Director of OX2 Wind.

“Brännliden offers an outstanding wind resource and, at an average wind speed of over 8 m/s at hub height, the site represents one of the best onshore wind power locations in the Nordics. Project development was initiated by OX2 in 2013 and we are pleased to see construction now commence”, concluded Christoffer Brandorf, Transaction Director, OX2 Wind.

OX2 is building the Brännliden wind farm under an EPC contract and will, once commissioned, be responsible for the technical and commercial management of the wind farm. Turbine provider Vestas will be the O&M contractor under a 25-year agreement. Chosen wind turbines are Vestas V136 4.2MW.

Marguerite, a leading European infrastructure fund, has signed an agreement with developer OX2 to acquire 100% of a 42MW wind turbine onshore wind farm in Brännliden, Skellefteå municipality, Sweden.

OX2 is currently building eight wind farms with a total of approximately 800 MW in Sweden, Norway and Finland.
Marguerite recently commissioned its first 46.8MW onshore wind farm in Sweden in Grimsås, Tranemo Municipality, Västra Götaland County. Once built the Brännliden wind farm will bring to 88.8MW Marguerite’s aggregate installed capacity in Sweden.
OX2 was advised by DLA Piper (legal) on the transaction. Marguerite was advised by Vinge (legal), DNV GL (technical), Grant Thornton (tax & financial) and A.ON (insurance).

About OX2

OX2 is a Group whose operations are in renewable energy and circular waste management. The Group offers sustainable and financially attractive products and services within large-scale wind power, distributed energy solutions and biogas production. By increasing the availability of renewable energy and improving the recycling of organic waste, OX2 is promoting the transition towards a renewable energy sector and a circular economy. OX2 has more than 100 employees working at various sites in Sweden, Norway, Finland, Lithuania, France and Germany. Its head office is located in Stockholm, Sweden. Sales revenue in 2017 amounted to approx. EUR 230 million.

For more information, please contact:
Paul Stormoen, Managing Director, OX2 Wind
+46 70-671 18 18, paul.stormoen@ox2.com

About Marguerite

Marguerite, established in 2010 with offices in Luxembourg and Paris, is an alternative investment fund manager licensed in Luxembourg. It is independently owned by its partners and manages three investment funds:

  • Marguerite Fund, a EUR 710m infrastructure fund raised in 2010 and now fully invested across 20 investments
  • Marguerite Pantheon SCSp, an investment vehicle owning stakes in renewables and transport assets in Europe
  • Marguerite II SCSp, a EUR 745m infrastructure fund raised in 2017 with commitments from EIB, KfW, CDC, CDP, BGK, and ICO.

www.marguerite.com
Media contact: Véronique Sant
+44 (0)203 206 0176
+44 (0)78 18 53 21 54
v.sant@positive-alpha.com

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