OX2, Dasos Capital Partner to Develop Solar Power in Estonia for 500 MW Estimated Capacity

May 29, 2023 11:27 AM ET
  • OX2 and Dasos Capital want to develop ten solar farms in Estonia.
  • The capacity of the very first 5 solar farms is estimated to be around 500 MW.

Swedish renewable resource company OX2 has actually announced the signing of a teamwork agreement with Dasos Capital for the development of 10 solar farms in Estonia in North Europe.

Dasos Capital is been experts investment company for sustainable forestry and also all-natural capital; it is an independent Alternative Investment Fund Manager (AIFM).

Dasos Capital stated that the capacity of the very first 5 solar farms is estimated to be around 500 MW.

The projects OX2 and also Dasos Capital remain in their early stages and are not yet part of OX2's project growth portfolio. The collaboration agreement includes ten solar farms in total. The estimated annual energy manufacturing of the first 5 solar farms is 500 GWh, which represents the yearly electrical power intake of regarding 100,000 households.

OX2 is in charge of the permitting, technical style and building and construction of the projects.

"Thanks to our broad experience in Sweden, Finland, and other European countries, we have the exceptional capability for developing as well as constructing big scale energy manufacturing units and we are eagerly anticipating using that experience additionally in Estonia", claims Hedi Konrad, Estonian Project Manager, OX2.

Dasos Capital said that the purpose is to clarify the possible ecological influence and land use options consisting of the need for permits during 2023. The last areas and also sizes of the solar farms will be verified throughout the developing, permitting and also planning processes in 2023-- 2025. The objective is to reach the financial investment choice for the initial 5 projects in 2024-- 2025.

"We more than happy to cooperate with OX2, a leading firm in the field, likewise in Estonia to enable development of regional clean energy production. We see fantastic possible in building extra renewable resource projects ashore we handle today," says Sami Veijalainen, Senior Partner, Dasos Capital.

OX2 has actually run in Estonia since 2022, and also it has 665 MW of wind power projects in the pipeline. The business has been developing solar power considering that 2018 and also has a total amount of more than 4 gigawatts of solar power projects in the pipe to be prepared and created in Europe.

Regarding solar energy per capita, Estonia has actually become one of the brand-new leaders. The nation is rated sixth amongst 27 EU participants, with 596 Watt per head in 2022; jumping from 405 in 2021. The government asserts that it has actually currently achieved its 2030 National Energy and Climate Plan (NECP).

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