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Leading Swedish renewables developer OX2 appoints Australian Country Manager

July 10, 2023, 09:30
From July 3, Rachel Watson will take on the position of Country Manager for OX2 Australia (formerly known as ESCO Pacific).
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As the former CEO of Pacific Hydro Australia and the former Chair of the Clean Energy Council, Rachel has extensive leadership experience in the energy sector.

Prior to her involvement in the energy transition, Rachel worked as a corporate lawyer for several years.

Rachel is succeeding ESCO Pacific’s Founder, Steve Rademaker, who will remain with OX2 as an advisor. 

“I’d like to extend a warm welcome to Rachel Watson. We are very happy to have her on board and I feel confident she is the right leader to take OX2 Australia to the next level. We see great potential in the market, and I look forward to being part of helping Australia make the great shift towards a sustainable future”, said Paul Stormoen, CEO of OX2 AB.

“I am thrilled to be joining the OX2 team who is bringing their commercially proven track-record and business model to Australia’s energy transition. I am looking forward to working with the very experienced local team on building an expanded renewable energy development platform in Australia.  There is a lot to be done to meet Australia’s targets for renewable energy by 2030”, says Rachel Watson. 

On March 31, OX2 announced its acquisition of ESCO Pacific in Australia. OX2 has identified considerable potential for value creation in ESCO Pacific through extension of the product offering from sale of projects rights to the sale of turnkey solutions at construction start.

OX2 also plans to scale up operations through acquisitions in solar and energy storage and has the ambitions to expand operations to onshore wind while exploring offshore wind and hydrogen.

For media inquiries, please contact:


Edvard Lind 
OX2 Communication 
Tel. +46 (0)72 727 11 17 


Elyse Gatt 
Michelson Alexander 
Tel. +61 433 586 152 



About OX2 AB (publ)

OX2 develops, constructs, and sells renewable energy solutions at scale. OX2 also offer management of wind- and solar farms after completion. OX2’s project development portfolio consists of in-house developed as well as acquired projects in onshore and offshore wind, solar, and energy storage, in various phases of development. The company is also active in developing projects based on other renewable energy technologies, such as hydrogen. OX2 is operating on eleven markets in Europe: Sweden, Finland, Estonia, Lithuania, Poland, Romania, France, Spain, Italy, Greece, and Åland. Sales in 2022 was about 7.6 billion SEK. The company has about 400 employees and is headquartered in Stockholm, Sweden. OX2 is listed on Nasdaq Stockholm since 2022.


About ESCO Pacific

ESCO Pacific is one of Australia’s leading ground mounted solar farm developers and operators with over 496MW of projects currently operational, 185MW committed and in construction and a further 1.1GW in advanced stages of development. Shell acquired a 49% interest in ESCO Pacific in December 2019. The ESCO Pacific team is comprised of infrastructure, development, grid connection and finance professionals with market leading experience in developing, and delivering to market, high quality utility scale solar farms.