OX2 completes procurement of renewables developer ESCO Pacific

• Swedish renewables developer OX2 AB (STO: OX2) on Monday stated it has actually completed the AUD-126-million (USD 84.7 m/EUR 76.9 m) procurement of Australian peer ESCO Pacific, including a 1.42-GW project development portfolio to its platform.

The transaction, which marks OX2's entrance into the Australian market, was set at the end of March.

The Swedish firm kept in mind in a press release that it has already determined considerable possibilities to boost the acquired business through the growth of its item using to complete solutions, inorganic growth financial investments as well as participating in the onshore wind market.

Set up in 2015, ESCO Pacific has a development portfolio comprising 1.22 GW of solar and 200 MW of power storage space projects.

The Richmond, Victoria-headquartered company comes as the latest procurement announced by OX2 in 2023.

The Swedish business in April acquired the rights to a 475-MW solar power project in southwestern Finland. At the start of the year, it tattooed a deal to obtain a 152-MW portfolio with 6 solar energy projects in Spain.