OX2 and MEAG signs first wind power deal in Poland

MEAG, asset manager for Munich Re and ERGO, has concluded a turn-key construction agreement with OX2 for the Zary wind farm project in Poland, comprising seven wind turbines. This is the first wind power deal for both parties in Poland.

The agreement relates to Zary wind farm in south-west Poland. The project secured a 15-year CFD (contract for difference) in the state auction that took place in Poland in November 2018.

“Poland is potentially one of Europe’s most important growth markets for wind power and we are excited to start the construction of OX2’s first project in Poland. We are looking forward to the partnership with MEAG and to be part of the Polish energy transition and create a more sustainable future,” says Paul Stormoen, CEO of OX2.

Holger Kerzel, managing director at MEAG: "We are very happy to have finalised this transaction, and about the collaboration with OX2. With the power generated by the Zary wind park, we will be able to save 750,000 tonnes of CO2 by 2050 as compared to the current energy mix in Poland. This project meets our exacting demands on sustainable and commercially successful investments."

OX2 will be constructing the wind farm as part of an EPC contract. According to the schedule, it will be commissioned and handed over to MEAG in 2021. It is estimated that the wind farm will produce a total of around 67 GWh per year.

“OX2 has created a strong team and pipeline of projects in Poland over the last years, and we are looking forward to realizing more renewable energy projects in the near future”, says Katarzyna Suchcicka, Country Manager OX2 Poland.

Facts about the project:
- Turbine selected: N117 3.0 MW, total height of 180 metres.
- Major subcontractors: Nordex (turbine supplier) and PBDI (foundations, roads, power grid)

For questions please contact:
Rebecca Karlsson, Head of Communications OX2, Tel. +46 734 21 50 50, Mail: rebecca.karlsson@ox2.com
Dr.Josef Wild, Spokesperson MEAG, Tel. +49 89 24 89 20 72, Mail: jwild@meag.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 15 years, having generated more than 2 GW of wind power in the Nordic region. By constantly increasing access to renewable energy, OX2 is promoting the transition towards a more sustainable future. OX2 has operations in Sweden, Norway, Finland, Poland, Lithuania and France. Its head office is located in Stockholm, Sweden. The sales revenue amount to approx. EUR 470 million. www.ox2.com

About MEAG
MEAG manages the assets of Munich Re and ERGO. MEAG has representations in Europe, Asia and North America and also offers its extensive know-how to institutional and private clients. MEAG currently manages assets to the value of Euro 278 billion.

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About OX2OX2 develops, builds and manages renewable power generation. OX2 has taken a leading position in large-scale onshore wind power over the past 15 years, having generated more than 2,3 GW of wind power in the Nordic region. By constantly increasing access to renewable energy, OX2 is promoting the transition towards a more sustainable future. OX2 has operations in Sweden, Norway, Finland, Poland, Lithuania and France. Its head office is located in Stockholm, Sweden. Sales revenue in 2019 amounted to EUR 463 million. . For more information, please visit: www.ox2.com

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Quotes

Poland is potentially one of Europe’s most important growth markets for wind power and we are excited to start the construction of OX2’s first project in Poland. We are looking forward to the partnership with MEAG and to be part of the Polish energy transition and create a more sustainable future
Paul Stormoen, CEO of OX2
We are very happy to have finalised this transaction, and about the collaboration with OX2. With the power generated by the Zary wind park, we will be able to save 750,000 tonnes of CO2 by 2050 as compared to the current energy mix in Poland. This project meets our exacting demands on sustainable and commercially successful investments
Holger Kerzel, managing director at MEAG