OX2 has agreed with Ingka Investments to sell a 49 percent stake in next generation Swedish offshore wind projects. The transaction is expected to impact OX2’s operating income positively with approximately 200 MSEK in 2023.
Following the transaction OX2 expects operating income for the full year 2023 to be approximately 1,000 MSEK. The transaction includes the offshore projects Pleione located east of Gotland and Neptunus located southeast of Blekinge which amounted to 2.4GW in OX2’s development portfolio in Q3 2023. OX2 will receive an initial payment of around 230 MSEK. Following successful permitting OX2 will in addition receive a pre-agreed deferred consideration of approximately 0.7 MSEK per MW for 49 percent of the planned capacity. Following the completion of the transaction, the development costs for the projects will be shared according to respective party’s ownership.