OX2 buys 170-MW Swedish wind project from Stora Enso

Swedish renewables developer OX2 said today it has purchased the rights to a 170-MW wind project in its home market from Finnish pulp and paper maker Stora Enso Oyj (HEL:STERV).

The value of the acquisition was kept under wraps.

The Halsingeskogen project calls for the installation of 37 turbines at a site in the municipality of Ovanaker, Gavleborg County. When completed, the power plant is expected to produce around 380 GWh of electricity, or enough to cover the average power consumption of 72,000 homes each year.

While OX2 will own the project rights, Stora Enso will remain the landowner of the specific site. The project location, on the Baltic Coast of Sweden, offers good wind resources, noted Hillevi Priscar, country manager Sweden at OX2.

In February, OX2 announced an agreement to buy a 400-MW wind project in Finland from Finnish construction company YIT Oyj. The Lestijarvi scheme, already having building permits in place, will be realised without subsidies and is touted as the largest one of its kind in Finland.

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