OX2 Acquires 500 MW Wind and Solar Projects in Greece

• OX2 claimed that the wind and solar projects are located in different regions of Greece and remain in different stages of advancement.
• The monetary information of the bargain are not divulged.

OX2 AB has actually introduced that it has obtained 2 important portfolios of wind and solar growth projects in Greece. The Swedish renewables developer said that the combined capacity of the two remains in excess of 500 megawatt (MW).

OX2 educated that the wind and solar projects lie in different regions of Greece. They are also at different stages of development in the here and now day.

The firm is yet to reveal the name of the vendor and financial details about the acquisition. It has additionally not disclosed details pertaining to the capacity of the projects and their targeted commissioning.

By 2030, Greece wants at least 61 percent of its electricity to come from renewable resources. The nation seeks to expand its solar and wind implementations to greater than 5 GW and 3 GW respectively.

OX2 will certainly service the projects in collaboration with knowledgeable neighborhood co-development companions. The company claimed that the advancement companions need to have a record of more than 4 GW authorized projects in Greece. OX2 claimed that it will certainly likewise seek other renewable energy chances to further its company in the Greek market.

Paul Stormoen, President, OX2 claimed, "Greece is a really intriguing market for OX2. About 20 percent of the electricity eaten in Greece is imported and 15 TWh of lignite will certainly be replaced by 2028. The country has strong sources and high aspirations for deploying renewable energy and predicted to install greater than 5 GW of solar and more than 3 GW of wind by 2030. OX2 can produce long-lasting impact and accelerate the power shift with its expertise in creating renewable energy projects eye-catching to financiers."

OX2 is active in ten markets in Europe presently. In Greece, the business is establishing a cross-functional team that will likely have neighborhood and global capability to execute business's projects. In 2021, the Swedish player got visibility in Romania and Italy. It likewise developed a solar hub in Spain.