OX2 sells 86 MW wind farm to Lundin Energy

Press Release ⎜ April 29, 2021

OX2 has sold a wind farm of 86 MW in southern Sweden to Lundin Energy. OX2 will begin construction of the wind farm with delivery expected in 2023.

The wind farm named Karskruv, comprising 20 wind turbines, will be constructed in the municipality of Uppvidinge, Kronoberg County, Sweden.

OX2 has developed the project that will now be constructed and delivered under a tailored EPC contract. Once commissioned, OX2 will retain responsibility for the technical and commercial management of the wind farm. Commissioning is planned for 2023 and yearly production amounts to approximately 290 GWh per year, equivalent to the electricity consumption of 60,000 households.

The agreement is the second between the two companies in just over a year, following the agreement of a 132 MW wind farm in Finland in 2020 where construction is now ongoing.

OX2 is currently constructing 14 wind farms with a total capacity of around 1000 MW in Sweden, Finland, Norway and Poland.

“OX2 remains firmly committed to leading the ongoing European energy evolution and we are pleased to reach a second agreement with Lundin Energy in just over a year,” said Paul Stormoen, CEO of OX2 AB.

“We are very pleased to be partnering with OX2 again and are excited that our latest renewable energy project is in our home country of Sweden. We are committed to be carbon neutral from 2025 and the Karskruv project is a key deliverable for this ambition,” said Nick Walker, President and CEO, Lundin Energy.

“The Karskruv project has been developed by OX2 for many years now. I’m happy that we will be able to contribute to the power production in the southern part of Sweden where the electricity demand is high,” said Hillevi Priscar, Country Manager OX2 Sweden.

Facts about the Karskruv wind farm:
– 20 Vestas V150-4.3 MW wind turbines with a total tip height of 191 metres.
– Expected average production of approximately 290 GWh per year, equivalent to the electricity consumption of close to 60,000 households
– Estimated year of commissioning: 2023
– Major sub-contractors: Vestas (turbine supplier), Kanonaden entreprenad (civil construction work and internal electricity grid), E.ON (grid connection).

For further information please contact:
Mikael Östlund
Acting Head of Communications OX2 Group
Tel. +46 709 10 01 59
mikael.ostlund@ox2.com

Robert Eriksson
Head of Media Communications Lundin Energy
Tel: +46 701 11 26 15
robert.eriksson@lundin-energy.com

About OX2
OX2 develops, builds and manages renewable power generation. OX2 has taken a leading position in large-scale onshore wind power over the past 16 years, having developed and constructed more than 2.4 GW of wind power in Europe. OX2 currently has contracted asset management services for 44 wind farms (2.28 GW). OX2’s mission is to lead the ongoing energy transition and promote a more sustainable future. OX2 has operations in Sweden, Norway, Finland, Poland, Lithuania and France. Its head office is in Stockholm, Sweden. Sales revenue in 2020 amounted to €510 million. For more information, please visit: http://www.ox2.com

About Lundin Energy
Lundin Energy is an experienced Nordic oil and gas company that explores for, develops and produces resources economically, efficiently and responsibly. Lundin Energy focuses on value creation for its shareholders and wider stakeholders through three strategic pillars: Resilience, Sustainability and Growth. Lundin Energy´s high quality, low cost assets mean they are resilient to oil price volatility, and the organic growth strategy, combined with the sustainable approach and commitment to decarbonisation, firmly establishes Lundin Energy´s leadership role in a lower carbon energy future. (Nasdaq Stockholm: LUNE). For more information, please visit http://www.lundin-energy.com or download Lundin Energy´s App at http://www.myirapp.com/lundin