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OX2 acquires Swedish wind project from Stora Enso

23 Apr 2021 (Last Updated April 23rd, 2021 15:51)

Renewable projects developer OX2 has agreed to acquire the project rights for a 170MW wind farm in Sweden from Stora Enso.

Renewable projects developer OX2 has agreed to acquire the project rights for a 170MW wind farm in Sweden from Stora Enso.

Located in Ovanåker, Gävleborg County, the Hälsingeskogen wind farm will feature 37 wind turbines

The facility will have the capacity to generate 380GWh of clean energy a year, equivalent to the annual average energy consumption of 72,000 households.

Under the agreement, Stora Enso will continue to own the land where the wind facility is located.

The financial details of the transaction have not been disclosed.

OX2 Sweden country manager Hillevi Priscar said: “Wind power needs to be quadrupled if Sweden is to reach the national goal of fully renewable electricity production by 2040, according to the Swedish Energy Agency and Swedish Environmental Protection Agency’s wind strategy.

“The conditions for a wind farm in Ovanåker are good. When we establish wind parks, we always strive for a positive development of the nearby area.

“We also work with programmes for increased biodiversity in areas where we construct turbines.”

In February, OX2 agreed to acquire a 400MW wind power project from Finnish construction company YIT.

As part of the deal, OX2 has acquired the project rights for 72 wind turbines from YIT.

Located in Central Ostrobothnia, Finland, the wind farm construction works are expected to begin within a year. The development will not use any government subsidies.

In another European development, Germany is reportedly planning to enhance the energy capacity tendered in renewable power project auctions, as well as reducing a fee charged to support wind and solar operators.

Reuters reported that the German coalition government has agreed on both measures to help achieve a 65% share of renewable sources within the power mix by 2030. Last year, this share was just under 50%.