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OX2 and Octopus Renewables Infrastructure Trust plc sign an agreement for 48 MW wind power in Sweden

March 11, 2020, 09:00
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Octopus Renewables Infrastructure Trust plc (ORIT) has signed a contract with OX2 for the acquisition of the 12-turbine Ljungbyholm wind farm in the municipality of Kalmar.

OX2 will be responsible for constructing the wind farm which is planned to be commissioned in summer 2021 and expected to produce approximately 150 GWh per year.

ORIT listed on the London Stock Exchange in December 2019, raising £350m to be invested in a diversified portfolio of in construction, construction-ready and operational renewable energy infrastructure assets across the UK, wider Europe and Australia. This acquisition is the first to be made by ORIT and is part of a considerable pipeline of opportunities that are currently being pursued.

"OX2 acquired the project rights in 2019 and has, since then, continued to develop the project. Thanks to this we can now sign the contract with ORIT and begin the construction process. We have ensured that the wind farm can deliver electricity at competitive prices", says Dimitrios Tsioulis, Transaction Manager at OX2.

"OX2 plays a major role in the energy transition based on competitive renewable energy.  As a result of the Ljungbyholm wind farm deal we now have generated more than 2,3 GW wind power in Europe”, says Paul Stormoen, CEO at OX2. 

"We are delighted to have had the opportunity to acquire this asset in southern Sweden – our first in the country. Scandinavia is an attractive market due to the possibility of combining high levels of wind resource with the latest wind turbine technology, and we hope to continue to build our presence in this region”, says Chris Gaydon, Investment Director at Octopus Renewables.

Chris continues, “It has been a pleasure working with OX2, who share our passion for the transition to renewable energy and this acquisition opens the door for further opportunities to collaborate in the future”.

OX2 is currently constructing 16 wind farms that will deliver around 1,2 GW in the Nordic region, around 770 MW of which is in Sweden. 

Project fact sheet:
- 12 Nordex N149/4.0-4.5 wind turbines with a total height of 200 m
- Estimated commissioning summer 2021
- Estimated average production of a total of around 150 GWh per year
- The major sub-contractors are: Nordex (turbine supplier), Kanonaden (construction work), E.ON (grid connection).