One of the core competences of OX2 is to continuously assess and purchase project rights from permit developers. Throughout the years OX2 has established an efficient process to acquire projects in all different phases of the development process and ensure effective development and implementation. During the last years OX2 has acquired several thousand megawatts of projects in the Nordics and Europe and has a strong record of turning around projects in complex situations and reaching construction start. OX2 is also involved in several development collaborations, so called Joint Development Agreements.

In addition to acquisitions and collaborations with other developers OX2 also has its own development process starting with identifying a suitable area for establishing a wind power plant, with regard to wind, electrical grid, land ownership and the conditions for obtaining a permit with legal force.

The project development usually begins with the signing of a land lease. Then a test of the suitability of the wind farm begins in accordance with applicable legislation. This takes the form of dialogue with relevant stakeholders such as local residents, government authorities, associations and grid companies. The dialogue ends with an environmental impact assessment.

Wind measurements begin in parallel, using masts and sodar systems. Production calculations are carried out and the electricity grid is designed. The farm layout/turbine choice is optimized to achieve the lowest possible costs.

Large-scale energy production is capital intense. Through its deep understanding of the financing universe and prerequisites for wind power investments, OX2 has realised over 2 GW of wind power during the past 15 years.

With the long-term vision of a fully renewable energy sector, OX2 has consecutively proven its capabilities within realization of large-scale wind power and our team has acquired an unrivalled experience in large-scale wind power transactions. As a reference, in 2018, OX2 secured the financing of more than 500 MW onshore wind power from institutional and industrial capital across multiple projects. As a testament of the value and quality OX2 delivers to its investors many of them have become recurring customers.

On the offtake side, OX2 holds a comprehensive knowledge of different and adequate solutions for structuring long-term revenue hedging. Hedging usually comes in the form of Power Purchase Agreements (PPAs) and OX2 is able to assist the investor in securing appropriate hedging of project revenues. PPAs are usually entered into with a major electricity consumer, utilities or electricity trading houses. Alternatively, in certain jurisdictions governmental subsidy schemes are available through auctions or similar arrangements. OX2 has vast experience in participating into these structures including auction bid simulations, bid tactics and regulatory understanding.

We are truly committed to providing sound and sustainable financial investments for our customers. In an evolving market, we put great effort into constantly improving our offer to adhere to market requirements. In 2018, OX2 achieved a tremendous milestone in realising the largest subsidy-free wind power project in the Nordics together with its long-term business partner IKEA.

Our experienced Engineering and Construction teams are called in at an early stage in a project, to ensure that the design, output and cost of an installation are optimised. Our teams have wide experience of major infrastructure projects in international settings, and work with comprehensive processes and systems to realise a safe project on time and on budget. Having 1 GW of wind power under construction during Q4 2019, OX2’s track record is hard to beat.

OX2 uses tendering processes aimed at established manufacturers to procure, for example, wind turbines, infrastructure and foundations for its projects. This process is carried out in accordance with international requirements and standards. OX2 then manages construction of the wind power plant, serving as main contractor for the purchaser.

The construction period is normally 1-2 years. OX2 can also deliver turnkey projects where OX2 is responsible for financing during the construction period.

In every project, we pay great attention to a number of factors, not least the area around the relevant site, its cultural heritage, the special environmental requirements and function. We engage with all parties concerned at an early stage in the process, including permit authorities, municipal representatives and local residents, and we keep a continuous relationship with all parties during the whole construction.

Once a plant has been built and commissioned, OX2’s Technical and Commercial Management Team takes over the commercial and technical management of the plant.

When a wind farm is built and commissioned, OX2’s Technical and Commercial Management team takes over day-to-day monitoring and optimization. This team handles all the issues which are important to the wind power owners, such as operational monitoring, optimisation of production, inspections, contract management, financial management and SPV administration.

Our customers include both owners of wind farms built by OX2 where the operation of the plant is part of the acquisition agreement, as well as owners of plants developed and built by third parties. The aim is to maximise profitability by ensuring a high level of production, to reduce the cost and to allow for an efficient ownership, freeing-up the owners time.

OX2 currently has management contracts of more than 450 wind turbines with an estimated annual production of 5 TWh. IKEA, Allianz, Aquila Capital and Ardian are just a few examples of owners that entrust us to manage and optimize their assets.

As we believe in full transparency towards our customers, we always make sure to provide them with the possibility to log into our monitoring system at any time and check operation, statistics and production in real time.