OX2 Sells 2 Solar Projects in Australia to European Energy
OX2 has sold two solar projects in Australia with combined capacity of 137 MWp/105MW ac. The transaction will be recorded in the third quarter 2024.
The sale includes project rights for Lancaster solar farm, 106MWp/80 MWac, located in Victoria and Mulwala solar farm, 31MWp/25MWac, in New South Wales. Both solar farms are expected to become operational during 2026.
Once operational, the annual production from the solar farms is estimated to about 255 GWh, which corresponds to the annual electricity consumption of approximately 54,000 Australian households.
The transaction will have a limited impact on OX2’s accounts.
Following this transaction and the recently announced sale of a solar farm in Victoria OX2’s development portfolio in Australia includes projects totalling 1,185 MW.
OX2’s focus in Australia is primarily within solar power and energy storage solutions. Their projects are located in Victoria, New South Wales, and Queensland.
By making large-scale investments in renewable energy, OX2 is accelerating the shift from fossil fuels to clean energy. The company aims to become the leading provider of renewable energy solutions globally.
About OX2
OX2 develops, constructs, and sells renewable energy solutions at scale. 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 projects in onshore and offshore wind, solar, and energy storage, in various phases of development. The company is also active in developing projects based on other renewable energy technologies, such as hydrogen. OX2 is operating on eleven markets in Europe: Sweden, Finland, Estonia, Lithuania, Poland, Romania, France, Spain, Italy, Greece, and Åland. Since 2023 OX2 is also operating in Australia. Sales in 2023 was about 7.8 billion SEK. The company has about 500 employees and is headquartered in Stockholm, Sweden. OX2 is listed on Nasdaq Stockholm since 2022.
