The market and driving forces
OX2 operates in the European renewable energy market and is active in 10 countries: Sweden, Finland, Estonia, Lithuania, Poland, Romania, France, Spain, Italy, and Greece. Our current core markets are Sweden, Finland, and Poland, where we have a strong market position.
The European renewable energy market
In all parts of society there is an ongoing phase-out of fossil fuels and electrification of sectors such as transportation and industry. With renewable energy being the fastest and most cost-efficient way to generate fossil-free electricity, there’s a rapidly growing demand for renewables – and related technologies – from industrial and financial investors.
To meet the Paris Agreement’s 1.5°C temperature rise, the world needs to make a rapid transition away from fossil fuels. Renewable energy is expected to account for 50 percent of all energy consumed in the EU by 2050.
New industries are also emerging in the wake of the transition. We need to both transform and expand our energy supply.
Renewable energy is a business case
Technology has advanced to the point where renewable energy is viable without subsidies. The cost of wind energy has fallen by about 70 percent over the last ten years and the price of solar energy has decreased by almost 80 percent. The technological development continues at a rapid pace. This has changed the market.
Renewables has become an attractive investment, particularly for long-term investors seeking stable returns. Major industrial companies have also started to invest in renewable energy to secure the supply of emission-free electricity.
The transition is no longer driven by politics and policies alone, renewable energy is a business case.
Renewables are today the fastest and most cost-effective way of building new electricity generation and we are seeing a steady increase in interest from large financial players looking for long-term investments with stable returns and low risk.