OX2 builds largest subsidy-free wind power project in the Nordics

OX2 has taken investment decision to construct four wind farms in Finland. The four projects are together the largest subsidy-free wind power construction in the Nordics with a total of 25 wind turbines and a combined capacity of 107.4 MW. IKEA Retail Finland, part of Ingka Group, is financing the construction, with the commitment to acquire the farms once they are fully operational in the beginning of 2020.

Image Source: OX2

The project includes wind farms Ponsivuori in Southern Ostrobothnia, Verhonkulma in Southwest Finland as well as Långmossa and Ribäcken in Ostrobothnia.

OX2 is the current owner and the main contractor for the construction. OX2 will also manage the technical and commercial operation when the wind farms are up and running at the beginning of 2020. Total production is estimated at approximately 360 GWh per year. The selected turbine is the Nordex N149 4.0-4.5 MW, the total height of which falls between 200 and 230 metres.

“The project marks a milestone both in OX2’s history and the industry as a whole confirming that we are now able to build wind power in the Nordics without financial subsidies. We have enjoyed great cooperation with Ingka Group for many years, so it’s especially rewarding to reach this milestone with Ingka Group,” says Paul Stormoen, Managing Director of OX2 Wind.

“We want to have a positive impact on people and the environment by accelerating the transition to a low carbon economy. One part of this commitment includes to become energy independent by 2020 and with the investments in wind farms, we take a leap in efforts to produce as much renewable energy as our global units consume,” says IKEA Retail Finland’s Sustainability Manager Jessica Lehtinen.

OX2 has previously sold four wind farms to Ingka Group, three of which are located in Sweden and one in Finland. The first project was acquired in 2011 and the most recent one in Northern Finland in 2017. OX2 is managing the technical and commercial operation for all these wind farms and in addition OX2 manages the Ingka Group’s wind farm in Lithuania.

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