OX2 delivers two commissioned wind farms to Infracapital

The Kröpuln and Storbacken wind farms, built by the renewable energy company OX2, have been commissioned and handed over to the European investment fund Infracapital. The total capacity of the wind farms is 60 MW, and the combined annual electricity production is approximately 200 GWh.

In August 2019, OX2 and Infracapital signed an agreement to build two wind farms with a total of 14 wind turbines in Finland. Kröpuln wind farm was built in the city of Uusikaarlepyy and Storbacken wind farm in the municipality of Vöyri. Both wind farms have now been commissioned.

"We are delighted that both wind farms have now finalised construction and did so to plan. This is Infracapital’s second investment in Finland and is a major step in addressing the investment requirement for sustainable energy in Finland going forward”, says Michele Armanini, Managing Director at Infracapital.

"We are very satisfied with the quality of work and close cooperation with local stakeholders. During the construction, local businesses have been an invaluable help to us, for example, in cabling and earthworks, as well as in accommodation and catering services," says Jommi Tervo, Project Manager at OX2, who was responsible for the construction of wind farms.

OX2 delivered the wind farms to Infracapital as turnkey projects and will continue to be responsible for the technical and commercial management of them.

"Our good cooperation with Infracapital continues during the operation phase as we will take care of the commercial management, optimization of production, and daily operation and safety of the wind farms. We will also continue as the main partner for local stakeholders such as landowners, municipalities and subcontractors," says Niko Blomberg from OX2, who is responsible for managing the wind farms.

The Kröpuln and Storbacken wind farms will generate approximately EUR 320,000 in real estate tax for Uusikaarlepyy and Vöyri every year. The wind farms are expected to produce 200 GWh per year, which corresponds to the electricity consumption for 40,000 households (5,000 kWh/household).

During operations the Kröpuln and Storbacken wind farms will replace around 97 000 Tons of CO2 emissions annually compared to electricity produced by fossil fuels in Finland.*

*) Energy Authority, Residual Mix Statement 2020

Facts about wind farms:

• Kröpuln: Seven Vestas V150 4.3 MW wind turbines with a total height of 203 meters
• Storbacken: Seven Vestas V150 4.3 MW wind turbines with a total height of 220 meters
• Main subcontractors: Vestas (turbine supplier), Infrabuilders (foundation, roads, network), Herrfors (grid connection)

Contacts:

Niko Blomberg, Production Manager, OX2, tel +358 40 525 3960

Tom Murray, Tulchan Communications, representing Infacapital, tel +44 20 7353 4200

About OX2 AB (publ)
OX2 develops and sells wind and solar farms. OX2 has taken a leading position in large-scale onshore wind power since 2004 and has developed and sold approximately 2.5 GW in Sweden, Finland, Norway and Poland for clients such as Allianz, Ardian and IKEA. Between 2014 and 2020, OX2 realised more onshore wind power in Europe than any other developer. By constantly increasing access to renewable energy, OX2 is promoting the transition towards a more sustainable future. OX2 has operations in Sweden, Finland, France, Italy, Lithuania, Norway, Poland, Romania and Spain with its headquarters in Stockholm, Sweden. Sales in 2020 was SEK 5,201 million with an EBIT of SEK 416 million. The OX2 share is listed on Nasdaq First North Premier Growth Market. FNCA Sweden AB is Certified Adviser to OX2. Phone: +46 8-528 00 399, e-mail: info@fnca.se. For more information, please visit: http://www.ox2.com.

About Infracapital
Infracapital invests in, builds and manages a diverse range of essential infrastructure to meet the changing needs of society and support long-term economic growth. We take an active role in all of our investments, whether nascent or large, to fulfil their potential and ensure they are adaptable and resilient. Our approach creates value for our investors, as we target investments with the scope for stable and sustainable growth. Our portfolio companies work closely with the communities where they are based, to the benefit of all stakeholders. Infracapital is well positioned to deliver the significant investment required to help build the future. The founder-led team of experienced specialists has worked with more than 50 companies around Europe and has raised and managed over £6.5 billion of client capital across six funds. Infracapital is part of M&G Plc, a leading European savings and investments business. M&G manages the long-term savings of more than 5 million people and is a major investor in the UK and in the global economy. Total assets under management are £370 billion (as at 30 June 2021).