Celebrating one year of OX2 in Australia
May 8, 2024, 08:00 I Article
One year ago, OX2 acquired ESCO Pacific, a leading Australian solar developer, and welcomed some 20 new colleagues in the process. Since then, some have left but more have joined. Today, there are more than 30 people in our office in Melbourne, developing and managing projects across the eastern part of the country.
Hear from some of our colleagues down under about the journey they are on as OX2 Australia:
Rachel Watson, Country Manager OX2 Australia
Rachel Watson
You joined as Country Manager in July last year. What has been your focus so far and where do you see OX2 Australia in the coming years?
“From the very beginning, I tried to keep things simple by thinking of only three focus areas: people, projects, and processes. We have brought a lot of new talent into the business with the intention of stepping up the pace of transactions, adding construction services to our product offering, and bolstering our capability in engineering and development.
With respect to the projects, a lot of work has gone into getting the late-stage projects ready for financial close as well as progressing the development and grid connection activities for our mid-stage projects. In the coming years, I see OX2 building on ESCO Pacific’s reputation as a developer of quality solar projects and gaining recognition for our ability to quickly spot opportunities to add value, including by expanding into onshore wind.”
Darren Flaus
You were with the ESCO Pacific asset management team and are now Head of Asset Management for OX2 in Australia. How has that side of the business changed in the past year and where do you see it heading?
“A year on, wow, how time flies when you’re having fun! The whole business today feels completely different from 12 months ago. We now feel part of the global OX2 business. The TCM team in Australia is small but super capable. We are proud of what has been achieved to date and excited by the opportunities that lie ahead. We have recently brought one new 130 MW solar farm and its four billion resident spiders under management at Glenrowan, Victoria, and hope to further expand the TCM portfolio over the medium term. OX2 is a superpower in Europe but relatively unknown down under and we look forward to gaining the brand awareness and our first project in wind or BESS or both. It is a privilege to be part of a global organisation that does what is says.”
Darren Flaus, Head of Asset Management
Catherine Way, Development Director
Catherine Way
You are one of our newest colleagues in Australia, having joined in March this year. What do you see as OX2’s main strengths as a developer in the Australian market?
“OX2 is an attractive organisation for engaging with landowners, as the company is involved through the whole of the project lifecycle. The size of OX2, it being a global player and publicly listed creates a great impression when dealing with regulators, transmission owners and investors. I feel proud to be working for such a company and look forward to success in the Australian market.”
Merinda Harvey
The OX2 Australia team has grown considerably in the past year. Will it continue to grow and what makes OX2 an attractive employer in Australia?
“We certainly have grown over the last 12 months. Within my time in the business alone we have welcomed 18 new team members, including myself! That has been a big change given the office was 19 people when I joined late May last year. Whilst we will continue to welcome a few more team members this year, we will certainly start to consolidate now as each of the teams find their new working rhythm and our new team members settle in.
One thing that we really value is the diversity that each of those new team members bring, this was evident during our recent Harmony week celebration. We are really focusing on learning more about one another and also embedding our new team culture.”
Merinda Harvey, People Partner
Daniel Lassooy, Senior Transaction Associate
Daniel Lassooy
You have been seconded from Finland to Australia for the past eight months. What have you been working on and how would you describe the overseas experience?
“My focus has shifted from working with onshore and offshore wind in the Nordics to solar and battery storage projects in Australia. During this time, I've been actively engaged in two ongoing realization processes, screening the market for potential acquisition opportunities and the ramp-up of the organization in general.
Melbourne's proximity to beautiful natural landscapes such as the Great Ocean Road offers fantastic weekend getaway opportunities. The friendly and welcoming locals have made the transition to living in Melbourne a seamless and enjoyable experience. Finally, the weather in Melbourne is much better than what I am used to in Finland, which has been a nice change.”
Facts: OX2 in Australia
- OX2 was established in Australia in May 2023 through the acquisition of leading solar developer ESCO Pacific.
- We currently have 1,222 MW solar power and 180 MW energy storage under development, and we manage 483 MW of solar assets.
- Australia a sizeable market with total electricity generation of 265 TWh
- The federal government has set a target of 82% renewable energy generation by 2030, which requires a rapid expansion of renewables.
- Coal generation fleet will be largely retired by 2035.