Denmark

Denmark

Investment fund buys 30% stake in Nordic wind developer

Swedish firm Altor has agreed to buy a 30% stake in Nordic onshore wind developer OX2, which is on track to deliver 800MW of onshore wind across Europe.

OX2's completed projects include the 90MW Glötesvålen wind farm in Sweden (pic: Jann Lipka/OX2)
OX2's completed projects include the 90MW Glötesvålen wind farm in Sweden (pic: Jann Lipka/OX2)

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OX2’s parent company, Peas Industries will remain the majority shareholder, according to today’s (29 June) press announcement.

Stockholm-based OX2 has developed 1.1GW of onshore wind in Sweden, Finland and Denmark, including the 147.6MW Lehtirova project in northern Sweden.

According to Windpower Intelligence, the research and data didvision of Windpower Monthly, the developer has a further 860.4MW of onshore projects in various stages of development of Sweden, Finland, Poland and Norway.

Last year, the company turned over €463 million in sales revenues, but Altor’s buy-in will help grow its onshore presence across the continent, OX2 said. To date, the investment firm has raised €8.3 billion across five of its funds since 2003 with about half so far invested. Around 30% of its capital comes from investors within the Nordic countries and DACH – Germany, Austria and Switzerland.

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