OX2 has signed a power purchase agreement (PPA) with Marguerite to sell 100% of power from the 42MW wind farm in Brännliden, Skellefteå municipality, Sweden.
Construction will start immediately with an estimated completion of the farm by late next year or early 2020. The expected average production is approximately 160 GWh per year.
Marguerite Partner William Pierson said: “This investment follows our renewable strategy to focus on low-subsidy projects with highly competitive LCOE. We, at Marguerite, are excited about our future collaboration with OX2.”
OX2 Wind managing director Paul Stormoen said: “We are very pleased to establish this relationship with Marguerite. Reaching construction start for this project is once again a proof of OX2’s core strength and focus; technical and financial wind farm optimisation and supply of full-wrap EPC agreements.”
OX2 Wind transaction director Christoffer Brandorf said: “Brännliden offers an outstanding wind resource and, at an average wind speed of over 8 m/s at hub height, the site represents one of the best onshore wind power locations in the Nordics. Project development was initiated by OX2 in 2013 and we are pleased to see construction now commence.”
OX2 is building the Brännliden wind farm under an EPC contract and will, once commissioned, be responsible for the technical and commercial management of the wind farm. Turbine provider Vestas will be the O&M contractor under a 25-year agreement. Chosen wind turbines are Vestas V136 4.2MW.
OX2 is currently building eight wind farms with a total of approximately 800MW in Sweden, Norway and Finland.
Marguerite recently commissioned its first 46.8MW onshore wind farm in Sweden in Grimsås, Tranemo Municipality, Västra Götaland County. Once built the Brännliden wind farm will bring to 88.8MW Marguerite’s aggregate installed capacity in Sweden.
OX2 was advised by DLA Piper (legal) on the transaction. Marguerite was advised by Vinge (legal), DNV GL (technical), Grant Thornton (tax & financial) and A.ON (insurance).
Source: Company Press Release