OX2 has agreed the sale of a 49% stake in a portfolio of Swedish offshore wind projects to Ikea owner Ingka Investments.
According to the agreement, OX2 will receive an initial payment of around SEK 230 million (€20 million). Following successful permitting, it would then receive an additional payment of approximately SEK 700,000/MW (€61,000/MW), for 49% of the planned capacity.
It should positively impact OX2’s 2023 operating income by approximately SEK 200 million (€17.6 million).
The transaction includes the Pleione and Neptunus developments. They are planned for sites in the Baltic Sea, to the east of Gotland and south-east of Blekinge, respectively.
The partners are also exploring further opportunities in the Swedish market, including the Ran project, which is located near Pleione. Pleione-Ran could provide 2.8GW and Neptunus, 2-3GW.
Following the completion of the transaction, the projects’ development costs will be shared, in proportion to the parties’ respective ownership.
It is OX2’s third offshore transaction with Ingka Investments, following those for 49% stakes in three Finnish offshore projects earlier this year and three Swedish offshore projects in 2022.
The companies will also investigate establishing offshore hydrogen production facilities and how this can aid artificial oxygenation of the Baltic Sea.
.png)
.png)
