Swedish renewables developer OX2 Australia has sold a 119 MW solar farm from its Australian portfolio to an undisclosed buyer.
OX2 Solar Plant to Power 51,000 Homes
OX2 estimates the plant will generate 242 GWh of electricity annually—enough to power approximately 51,000 Australian homes. Since entering the Australian market last year, the company has built a strong local team.
Image: Collected
OX2 to Manage Victoria Solar Farm
The solar farm is located in Victoria, southeast Australia. OX2 will oversee its construction for the buyer, and operations are scheduled to begin in 2027. Once commissioned, OX2 will manage the site’s technical and commercial operations for five years to optimize its performance.
“It feels great to present this transaction. Since we entered Australia last year, we have strengthened our local team, and a lot of work has gone into getting the late-stage projects ready for financial close,” said Rachel Watson, OX2 Australia country manager.
“We have a solid project development portfolio and there is currently a lot of activity both in our solar and energy storage projects.”
OX2 Maintains 1GW Solar Portfolio in Australia
Following this transaction, OX2’s project development portfolio in Australia now totals approximately 1 GW of solar projects and 230 MW of energy storage.
“We are delighted to announce this sale in Australia, a market that offers significant growth opportunities. The Australian government is committed to the net zero target by 2050 and is targeting significant infrastructure investments to enable the build-up of renewable capacity,” said Paul Stormoen, OX2 chief executive.
“I see considerable potential for value creation for OX2 in Australia through extension of the product offering and expansion of the development portfolio.”
This deal follows another recent transaction from August 2024, when OX2 announced the sale of a significant battery energy storage project in Finland to the L&G NTR Clean Power Fund. The Uusnivala project, which has a capacity of 50 MW/110 megawatt-hours, is ready for construction and will be overseen by the new owner.
