August 19 (Renewables Now) - Swedish renewables developer OX2 has agreed to sell two pre-construction onshore wind projects in Finland totalling 60 MW to Infracapital, the infrastructure equity investment arm of M&GPrudential.
Infracapital is buying the Kropuln and Storbacken projects, which, once completed, will consist of 14 turbines with an estimated annual power production of around 206 GWh.
“With this contract included, we are now building six wind farms without subsidies in Finland, which shows that wind power will play a leading role in the transition to sustainable energy,” said Paul Stormoen, CEO of OX2.
The Swedish company has a bespoke engineering, procurement and construction (EPC) contract in place and will continue to serve as the asset manager throughout construction and operations. Building works are seen to start this autumn, while completion is scheduled for the fourth quarter of 2021.
To date, OX2 has developed over 1,800 MW of wind projects and is currently building 15 wind parks totalling 973 MW in the Nordic region. Of this, about 190 MW of capacity is in Finland.
On the other hand, this is Infracapital’s second investment in Finland and the first project for Infracapital Greenfield Partners Fund I LP (IGP I) in the Nordics region.