OX2 and Aquila Capital in major deal for 357 MW wind farm in Sweden

OX2 announced today that the financing of Valhalla project comprising 85 wind turbines has been successfully completed. Aquila Capital will acquire the project which OX2 will deliver as an EPC contract.  It will be one of the largest onshore wind farms in Europe.

The wind farm will be built in the municipalities of Bollnäs and Ockelbo, in central Sweden. The permits for the park have been developed in cooperation between OX2 and Bergvik Skog.

Roman Rosslenbroich, CEO and Co-Founder of Aquila Capital says: “Wind energy investments in the Nordics region are highly attractive investments and this project is especially remarkable due to the technical dimension and its performance features. Our proposition in the region is enhanced even further by the broad network of partnerships we have built with leading market participants such as OX2 and Vestas. We are very happy about this cooperation.”

The construction work will begin immediately, with completion of the wind farm expected in the spring of 2020. OX2 will then have a contract for technical and commercial management of the wind farm. The expected average production is more than 1.1 TWh per year. The project will be featured with a long-term power purchase agreement with a yet undisclosed, high calibre-offtaker.

“This is yet another attractive project resulting from Aquila and OX2's successful partnership in recent years. We are delighted that Aquila is continuing to invest in Nordic wind power and especially proud that we are able to deliver a project as large and efficient as Valhalla,” says Paul Stormoen, Managing Director of OX2 Wind.

The project strengthens OX2's leading market position in the Nordic region, where the company is currently building six wind farms totalling 717 MW.

Facts about the Valhalla project
– The facility will comprise 85 wind turbines from Vestas, model V136 4.2 MW, each with a total height of 180 metres
–  The average wind in the area is approximately 7.2 m/sec at the turbines’ hub height
– The expected average production is approximately 1.1 TWh per year, which corresponds to the annual consumption of household electricity for approximately 223,800 households (5,000 kWh per household)
– The wind farm is expected to be completed in the spring of 2020
– The major sub-contractors are: Vestas (turbines), Ellevio (national grid), Empower (ground work and foundations, site Tönsen) and Svevia (ground work and foundations, site Åmot-Lingbo).

For more information, please contact:
Paul Stormoen, Managing Director OX2 Wind, tel: +46 (0)70-671 18 18, paul.stormoen@ox2.com

Susanne Chu, Aquila Capital, Manager Corporate Communications, tel: +49 40 87 50 50 288, susanne.chu@aquila-capital.com

OX2 is a renewable energy company with operations in wind power, solar power, bioenergy and geothermal energy. By offering sustainable investments, system solutions and products to financial operators, businesses and consumers, OX2 is a driving force in the conversion towards a renewable energy sector and a fossil fuel-free vehicle fleet. The company has offices in Sweden, Finland, Lithuania, France and Germany. Its headquarters are located in Stockholm, Sweden.

OX2 has developed and constructed almost 1200 MW of wind power and is one of the leading players in onshore wind power in northern Europe. In the field of bioenergy, OX2 operates two biogas plants in southern Sweden, with an annual production of approx. 90 GWh of biogas. For more information, please visit www.ox2.com

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OX2 is a renewable energy company with operations in wind power, solar power, bioenergy and geothermal energy. By offering sustainable investments, system solutions and products to financial operators, businesses and consumers, OX2 is a driving force in the conversion towards a renewable energy sector and a fossil fuel-free vehicle fleet. The company has offices in Sweden, Finland, Lithuania, France and Germany. Its headquarters are located in Stockholm, Sweden. OX2 has developed and constructed almost 1600 MW of wind power and is one of the leading players in onshore wind power in northern Europe. In the field of bioenergy, OX2 operates two biogas plants in southern Sweden, with an annual production of approx. 90 GWh of biogas. For more information, please visit www.ox2.com

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Wind energy investments in the Nordics region are highly attractive investments and this project is especially remarkable due to the technical dimension and its performance features
Roman Rosslenbroich, CEO and Co-Founder of Aquila Capital