References/13 Feb 2020
Borenius advised OX2 on the sale of Metsälamminkangas wind farm
We advised OX2, the Swedish wind power developer, on the sale of the Metsälamminkangas wind farm in Vaala, North Ostrobothnia, Finland, to Lundin Petroleum, the Swedish listed oil and gas exploration and production company focused in Norway. This project is the third largest wind farm to be built in Finland, and it will be constructed without government subsidies. The construction of the project will commence in the near future and the wind farm will be powered by 24 GE Renewable Energy wind turbines with an aggregate capacity of 132 MW. OX2 is constructing the wind farm as an EPC contract and will also be entrusted with responsibility for the technical and commercial management of the farm. The facility is planned to be commissioned in December 2021 and is expected to produce approximately 400 GWh per year.
OX2 develops, builds and manages renewable power generation. OX2 has taken a leading position in large-scale onshore wind power over the past 15 years, having generated more than 2 GW of wind power in the Nordic region. By constantly increasing access to renewable energy, OX2 is promoting the transition towards a more sustainable future. OX2 has operations in Sweden, Norway, Finland, Poland, Lithuania and France. Its head office is located in Stockholm, Sweden. The sales revenue amount to approx. EUR 470 million.
Lundin Petroleum is a leading independent exploration and production company with a strategic focus on Norway. Lundin Petroleum was founded in 2001 and entered the Norwegian Continental Shelf in 2003. Since then, Lundin Petroleum has grown to become one of the largest operated acreage holders in Norway with a strong production growth profile for coming years.