OX2 sells stake in next generation Swedish offshore wind portfolio to Ingka Investments

OX2 has agreed with Ingka Investments to sell a 49 percent stake in next generation Swedish offshore wind projects to Ingka Investments.

The transaction includes the offshore projects Pleione located east of Gotland and Neptunus located southeast of Blekinge, which amounted to 2.4 GW in OX2’s development portfolio in Q3 2023. OX2 and Ingka Investments are also currently exploring future opportunities in the Swedish market including the project Ran located near Pleione. The parties will in addition to offshore wind investigate establishment of offshore hydrogen production facilities and how this can enable artificial oxygenation of the Baltic Sea and thereby bring back marine life to parts of the Baltic Sea which suffers from anoxic conditions.

This is OX2’s third offshore transaction with Ingka Investments. The previous agreements include Ingka Investments’ acquisitions of a 49 percent stake in three offshore projects in Finland in June 2023 and in three offshore projects in Sweden in 2022.

OX2 was advised by Mannheimer Swartling in connection with the transaction.

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