OX2 to sell 49% stake in Finnish offshore wind portfolio to Ingka Investments.

OX2, a Sweden-based clean power firm, has reached a deal with Ingka Investments, the largest owner and operator of IKEA Retail, to divest a 49% stake in three offshore wind farms in Finland. Situated in the Gulf of Bothnia in the Finnish exclusive economic zone, the three offshore wind plants, named Laine, Tyrsky, and Halla, will total roughly 6000 MW. Under the new transaction, OX2 will receive a price of SKR 0.8 M/MW ($77,000/MW), in exchange for 49% of the planned capacity, after obtaining the needed permissions to continue development. Once operational, the projects would yield a total of up to 29 TWh, which indicates over one-third of the electricity used in Finland in 2022. Laine and Halla, the most advanced offshore wind plants in the country, would become operational by end-2030. The agreement would be finalized within two months, subject to customary competition merger filing needs. Upon completion, both Ingka Investments and OX2 will share the development costs for the projects, based on their respective ownership. Original Source: NS Energy, http://www.nsenergybusiness.com.