Our markets
OX2 operates in a total of twelve markets. We have a leading market position in Sweden, Finland, and Poland.
When entering new markets, we have been particularly interested in electricity markets with a significant share of fossil energy and clear needs and opportunities to increase the share of renewable energy.
We have entered new markets by acquiring a project or a company. We appoint or develop a local organization consisting of employees who have the skills and experience to establish and run renewable projects in dialogue with landowners, politicians, local communities and other stakeholders.
In spring 2023, we entered the Australian market by acquiring one of the country’s leading solar farm developers, which brought with it a portfolio of solar and energy storage projects. Australia is an attractive market with great potential in renewable energy as fossil fuels currently account for around 60 percent of the energy supply. Australia is aiming to achieve 82 percent renewable energy by 2030 according to a climate change statement from the country’s federal government.
| Country | Climate targets | OX2 established (year) |
|---|---|---|
| Sweden | Net zero by 2045. Intermediate targets for 2030 and 2040. | 2004 |
| Finland | Net zero by 2035. Intermediate target for 2030. | 2012 |
| France | Net zero by 2050. Intermediate target for 2030. | 2017 |
| Lithuania | Net zero by 2050. Intermediate target for 2030. | 2017 |
| Poland | No net zero target. Intermediate target for 2030. | 2019 |
| Italy | Net zero by 2050. Intermediate target for 2030. | 2021 |
| Romania | Net zero by 2050. Intermediate target for 2030. | 2021 |
| Greece | Net zero by 2050. Intermediate target for 2030. | 2022 |
| Estonia | Net zero by 2050. Intermediate target for 2030. | 2022 |
| Spain | Net zero by 2050. Intermediate target for 2030. | 2022 |
| Åland* | Net zero by 2035. Intermediate target for 2030. | 2022 |
| Australia | Net zero by 2050. Intermediate target for 2030. | 2023 |
*An autonomous region of Finland.