OX2 clinches co-development deal for 1.2 GW of Finnish wind

June 1 (Renewables Now) - Sweden’s OX2 AB (STO:OX2) has sealed a partnership deal with Finnish renewable power producer Tuulialfa to jointly develop and build 1.2 GW of onshore wind parks in Finland’s Northern Ostrobothnia and Lapland regions.

The duo will work on a bundle consisting of six projects, most of which are currently in the planning phase and are part of OX2’s portfolio, the Stockholm-based renewables developer said on Wednesday.

Under the arrangement, Tuulialfa will be responsible for project development, while OX2 will take care of the financing, procurement, construction and operation. The partners expect to take final investment decisions on the projects between 2025 and 2028.

A total of 150 turbine generators are planned to be installed in the municipalities of Utajarvi, Pudasjarvi, Oulu, Kittila and Kuusamo.

The partnership aims to help support the growing demand for electricity in Finland, where consumption is expected to rise from 82 TWh to 136 TWh by 2030, according to national electricity transmission grid operator Fingrid.

OX2 has more than 4 GW of solar projects in its pipeline across Europe. Last week, the company teamed up with Finnish alternative investment fund and land manager Dasos Capital to jointly develop 10 solar projects in Estonia, starting with five totalling 500 MW.