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OX2 and Marguerite sign 42MW wind power deal

September 28, 2018, 08:00
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Stockholm / Luxembourg, 2018-09-28. 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.

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. 

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).