OX2, a prominent player in renewable energy, has struck a deal with Ingka Investments, the investment arm of Ingka Group, the largest IKEA retailer, to sell a substantial 49 percent stake in advanced Swedish offshore wind and hydrogen projects.
The primary goals of this transaction involve the transfer of ownership in two significant offshore wind projects, Pleione and Neptunus, contributing a substantial 2.4 GW to OX2’s development portfolio. The financial impact is expected to be positive, with an estimated 200 MSEK* boost to OX2’s operating income in 2023. This aligns with OX2’s strategy to diversify risk and capitalize on the value creation in offshore wind across development phases.
Beyond traditional offshore wind ventures, the collaboration extends to exploring the establishment of offshore hydrogen production facilities. This ambitious endeavor aims to facilitate artificial oxygenation of the Baltic Sea, rejuvenating marine life in areas grappling with anoxic conditions. The integration of hydrogen and e-fuel production into OX2’s next-generation project pipeline reflects a commitment to innovation and meeting the surging demand for renewable energy.
The collaboration’s potential impact extends beyond financial gains. With the shared vision of a renewable energy future, OX2 and Ingka Investments are not just transacting projects but are exploring ways to address climate footprint reduction. The strategic partnership underscores a commitment to sustainability that transcends individual consumption and extends throughout the value chain.
