Merger clearance obtained for OX2’s sale of 49 percent of offshore wind projects to Ingka Investments

November 9, 2022, 07:50

Non-regulatory

On August 29, OX2 announced that an agreement had been signed with Ingka Investments for the sale of 49 percent of three offshore wind projects in Sweden, with a potential capacity of 9,000 MW. The deal was subject to customary competition merger filing approval. Merger clearance has now been obtained and the transaction is expected to close within two weeks.
According to the agreement, OX2 will receive an initial payment of approximately 58 MEUR which corresponds to 630 MSEK*. After permits are obtained and if both parties agree to continue the development, OX2 will receive a pre-agreed additional payment of up to EUR 100k corresponding to approximately 1.1 MSEK per MW for 49 percent of the planned total capacity.

*EUR/SEK exchange rate 10.85

For further information, please contact:
Henrik Vikström
Investor Relations Director
+46 70 952 80 06
henrik.vikstrom@ox2.com

About OX2 AB (publ)

OX2 develops, constructs, and sells onshore and offshore windfarms and solar PV farms. 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 wind and solar projects in various phases of development. The company is also active in developing projects based on other renewable energy technologies, such as hydrogen and energy storage. OX2 is operating on eleven markets in Europe: Sweden, Norway, Finland, Estonia, Lithuania, Poland, Romania, France, Spain, Italy and Greece. Sales in 2021 was about 5 billion SEK. The company has almost 300 employees and is headquartered in Stockholm, Sweden. OX2 is listed on Nasdaq Stockholm since 2022. www.ox2.com

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