OX2 sells its first offshore wind projects to Ingka Investments, who acquires a 49 percent stake in three projects in Sweden. The projects will have the potential to reach a total installed capacity of up to 9,000 MW.
OX2 will receive an initial payment of 610 MSEK. Following successful permitting of the project(s), and if both parties at that point in time agree to continue development of the project(s), OX2 will receive a pre-agreed price equivalent of up to 100k EUR per MW for 49 percent of the planned total capacity. The transaction is expected to impact operating income positively with 584 MSEK1 in the second half of 2022. Following the completion of the transaction, OX2 expects operating income for the full year 2022 to be slightly above 1,000 MSEK.
The three projects are Galatea-Galene, located off the coast of Halland, Triton, located off the coast of Skåne and Aurora, located off the coast of Gotland and Öland. The projects have the potential to produce up to 38 TWh combined, once operational, corresponding to more than 25% of the electricity consumed in Sweden 2021. The projects are under development with the main wind farm permit applications submitted.