Swedish renewables developer OX2 has successfully completed the sale of its 119 MWac Horsham Solar Farm in Victoria, Australia, to an undisclosed buyer. The transaction for the project, located 330 km northwest of Melbourne within the Western Victoria Renewable Energy Zone, was finalized in early September 2024.
The facility is projected to have a significant impact on the region’s energy supply, generating an estimated 242 GWh of clean electricity annually. This output is sufficient to power approximately 51,000 homes, marking a substantial contribution to Australia’s renewable energy targets. The project will feature an installation of around 225,000 solar panels.
Under the terms of the agreement, OX2 will retain a key role in the project’s lifecycle. The company will manage the entire construction phase on behalf of the new owner, with the solar farm expected to become operational in 2027. Following its commissioning, OX2 will oversee the technical and commercial management of the site for an initial five-year period to ensure optimal performance.
Rachel Watson, OX2 Australia’s country manager, commented on the milestone: “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. We have a solid project development portfolio and there is currently a lot of activity both in our solar and energy storage projects.”
Even after this sale, OX2 maintains a robust presence in the Australian market. The company’s remaining development portfolio in the country consists of approximately 1 GW of solar projects and 230 MW of energy storage solutions.
Paul Stormoen, CEO of OX2, highlighted the strategic importance of the market. “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. I see considerable potential for value creation for OX2 in Australia,” he stated.
Sources for OX2 Australia Finalizes Sale of 119 MW Solar Farm
- OX2 Sells 119 MW Solar Project in Australia – Mercom Capital Group
- Project Finance Brief: OX2 Sells 119 MW Solar Project in Australia
- OX2 sells 119 MWac solar farm in Australia – Nasdaq
- OX2 Sells 119-MW Solar Project in Australia – Energy-Box
- OX2 Sells Two Solar Projects in Australia to European Energy …
- OX2 begins construction of 119 MW solar farm in Australia
- OX2 sells 119 MWac solar farm in Australia
- OX2 to divest 119 MWac solar farm in Victoria, Australia
- OX2 Australia sells Victorian 119 MW solar farm to undisclosed bidder
- OX2 to deliver state-owned solar-plus-storage site in Victoria
