OX2 sells 119-MW Aussie solar project

Swedish renewables developer OX2 AB (STO:OX2) has closed a deal to sell a 119-MWac solar project in Australia’s state of Victoria, the company announced on Thursday without revealing the name of the buyer.

OX2 will oversee the construction of the solar farm on behalf of the buyer and manage the site operations for five years after commissioning, including handling the technical and commercial aspects of the project.

The solar farm is expected to become operational in 2027. OX2 estimates that the plant will be capable of generating 242 GWh of electricity annually, enough to power around 51,000 Australian homes.

OX2 entered the Australian market last year and has since built a strong local team, Rachel Watson, Country Manager for OX2 Australia, said.

“[A] lot of work has gone into getting the late-stage projects ready for financial close. We have a solid project development portfolio and there is currently a lot of activity both in our solar and energy storage projects,” Watson added.

After the sale, OX2's project development portfolio in Australia now consists of around 1 GW of solar projects and 230 MW of energy storage projects.

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