OX2 AB (publ)

05/31/2024 | Press release | Distributed by Public on 05/31/2024 07:39

The County Administrative Board gives green light to offshore wind farm Aurora off the coast of Sweden

English Swedish
Published: 2024-05-31 15:38:00 CEST

OX2 AB
Investor News

The County Administrative Board gives green light to offshore wind farm Aurora off the coast of Sweden

The County Administrative Board of Gotland has decided to recommend the Government to grant permit according to the Act on Sweden's exclusive economic zone for the offshore wind farm Aurora developed by OX2 and Ingka Investments. If the Government gives an approval a first phase of the project could be operational by 2030 and deliver over 6 TWh annually to South Sweden. The entire wind farm is expected to be developed by 2035 and can deliver up to 24 TWh on a yearly basis.

Aurora is located about 22 kilometers south of the island of Gotland and more than 30 kilometers east of the island of Öland in the Baltic Sea. When completed the wind farm will produce up to 24 TWh annually. The Baltic Sea is also an important area for the Swedish Armed Forces and with the help of sensors on the wind turbines, the wind farm could assist with surveillance in the area.

In connection with its decision, the County Administrative Board of Gotland announces that energy production is an urgent and important public interest and that the wind farm would provide a significant contribution of electricity production in the part of Sweden where consumption is greatest.

- Aurora can act as an accelerator in the transition to net zero emissions in southern Sweden. The large-scale production of electricity will enable a substantial production of hydrogen and e-fuel, which is the prerequisite for fossil-free industry, shipping and aviation. We are working in parallel to secure the connections to the electricity grid as well as signing supplier agreements to be able to start construction as soon as all permits are in place, says Emelie Zakrisson, Head of Offshore wind development in Sweden, OX2.

- We are really pleased that the County Administrative Board has given the green light to the project. We look forward to realizing Aurora together with OX2. With a fast permit process the wind farm could be producing electricity by 2030, says Frederik de Jong, Head of Renewable investments, Ingka Investments.

In addition to electricity production OX2 is working to improve biodiversity in the area. Among other things OX2 is investigating how the fixed structures of the park can be designed to function as artificial reefs for sessile species and form premises where fish accumulate.
Collaborations are also underway to investigate the possibilities for large-scale mussel farming within the park, which would help reduce eutrophication.

In April this year the County Administrative Board granted Aurora a Natura 2000-permit. OX2 and Ingka Investments also develop the offshore wind farm Galene that received a permit a year ago, Triton and Neptunus off the coast south of Sweden and Pleione-Ran off the coast of Gotland. OX2 and Ingka Investments are also developing three offshore wind farms off the coast of Finland.

For further information, please contact:

Edvard Lind
OX2 Communication
Tel. +4672 727 11 17
[email protected]

Henrik Vikström
Investor Relations Director
Tel. +4670 952 80 06
[email protected]

About OX2 AB (publ)

OX2 develops, constructs, and sells renewable energy solutions at scale. OX2 also offer management of wind- and solar farms after completion. OX2's project development portfolio consists of in-house developed as well as acquired projects in onshore and offshore wind, solar, and energy storage, in various phases of development. The company is also active in developing projects based on other renewable energy technologies, such as hydrogen. OX2 is operating on eleven markets in Europe: Sweden, Finland, Estonia, Lithuania, Poland, Romania, France, Spain, Italy, Greece, and Åland. Since 2023 OX2 is also operating in Australia. Sales in 2023 was about 7.8 billion SEK. The company has about 500 employees and is headquartered in Stockholm, Sweden. OX2 is listed on Nasdaq Stockholm since 2022. www.ox2.com

Attachments:
The County Administrative Board gives green light to offshore wind farm Aurora off the coast of Sweden.pdf

This news release was distributed by Company News System, www.nasdaqomxnordic.com/news/marketnotices
To subscribe on regulatory news from this company, go to the subscription page