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March 22, 2021

OX2 to sell two Polish wind farms to DIF Capital Partners

Renewable energy developer OX2 has agreed to sell two Polish wind farms to a fund managed by DIF Capital Partners.

By Umesh Ellichipuram

Renewable energy developer OX2 has agreed to sell two Polish wind farms to a fund managed by DIF Capital Partners.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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DIF Capital Partners signed the deal for the Grajewo and Sulmierzyce wind farms through its DIF Infrastructure Fund VI. The facilities in the Podlaskie and Łódź regions of Poland have a total capacity of 63MW.

OX2 CEO Paul Stormoen said: “I am very happy to welcome DIF Capital Partners as a new partner with its extensive experience from long-term investments in renewable energy projects.

“Our partnership is a significant step in OX2’s ongoing expansion in Poland. It quadruples the amount of green energy that will be produced from the wind farms in Poland built by OX2.”

The wind farms are currently under construction. The Grajewo wind farm will generate 40MW with 12 Vestas wind turbines, which have a capacity to generate approximately 131GWh of clean energy annually.

The 23.1MW Sulmierzyce wind farm in Sulmierzyce, Krotoszyn district, will use seven Vestas wind turbines. It will generate 68GWh of renewable electricity annually.

OX2 has agreed to build the two projects under a tailored engineering, procurement, and construction contract. The projects will begin operations by the end of next year.

Once operational, OX2 has agreed to provide technical and commercial management for the wind facilities.

Together, the wind farms will generate 200GWh of energy, which is sufficient to power 50,000 households annually while offsetting 70,000t of carbon emissions per year.

The companies have not disclosed the financial details of the deal.

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Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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