OX2 nabs financing for 357-MW Swedish wind project

Swedish renewables developer OX2 has secured the financing needed to build the 357-MW Valhalla wind farm in the municipalities of Bollnas and Ockelbo, it announced today.

As in previous cases, upon completion in the spring of 2020 the company will sell the asset to its partner, alternative asset manager Aquila Capital. OX2 has developed the permits for the project in cooperation with Bergvik Skog. The former will act as the engineering, procurement and construction (EPC) contractor. Other major subcontractors include Ellevio, Empower and Svevia.

The Swedish firm says that this will be one of the largest onshore wind farms in Europe. It will comprise 85 of Vestas’ (CPH:VWS) V136 4.2 MW turbines. The completed wind farm will be capable of generating about 1.1 TWh of electricity per year and will be selling it under a long-term deal with an unnamed “high calibre-offtaker”.

OX2 said that construction work will start immediately and once the plant is completed the company will also take care of its technical and commercial management. At present, OX2 is building six wind parks in the Nordic region totalling 717 MW.

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