Natural Power has supported OX2 in securing financing for a 50 MW / 209 MWh battery energy storage system (BESS) co-located with the Fageråsen Wind Farm in Sweden. The four-hour system is being developed in the municipality of Malung-Sälen. Natural Power acted as lender’s technical advisor, providing technical due diligence services for the financing. The company previously provided technical due diligence for the Fageråsen Wind Farm’s financial close.
For the BESS project, Natural Power worked with Etha Oy to provide lenders with a technical assessment of the project. The team prepared due diligence reports covering key risks and opportunities associated with the development.
OX2 secured financing for the BESS through an extension of the commitments already provided for the Fageråsen Wind Farm, with DNB and UniCredit acting as lenders.
Construction of the BESS facility started in July, with commissioning planned for the end of 2027. Natural Power has also been appointed to provide construction monitoring services during the next stage of the project.
