OX2 has signed an agreement with Prime Capital for an operating wind farm of just over 23 MW in northern Finland. Prime Capital AG, a European asset manager focused on alternative investments, on behalf of one of its institutional clients, will take over ownership of the wind farm as of today. OX2 will perform a technical upgrade of the wind farm, as well as be responsible for technical and commercial management.
The wind farm is located between Posio and Kuusamo in northern Finland and consists of seven Vestas V126 turbines, producing approximately 80 GWh per year. It was built in 2016 within the framework of the Finnish funding system for wind power and is characterised by its good wind resources. The farm has a capacity factor of close to 40 percent.
“We are very happy to be part of this transaction.” Paul Stormoen, CEO at OX2
“We are very happy to be part of this transaction. The wind farm has been performing well for the last two years and we now see further potential in improving its output by doing technical upgrades”, says Paul Stormoen, Managing Director at OX2 Wind.
“We are very pleased to conclude our first agreement with Prime Capital and are looking forward to a long-term collaboration in which we can continuously optimize the production with our analytics tool kit,” says Lars Bryngelsson, Managing Director of OX2 TCM.
At the moment, OX2 constructs more than 800 MW and manage totalling 1,170 MW wind power in the Nordics.
OX2 is a Group whose operations are in renewable energy and circular waste management. The Group offers sustainable and financially attractive products and services within large-scale wind power, distributed energy solutions and biogas production. By increasing the availability of renewable energy and improving the recycling of organic waste, OX2 is promoting the transition towards a renewable energy sector and a circular economy. OX2 has more than 100 employees working at various sites in Sweden, Norway, Finland, Lithuania, France and Germany. Its head office is located in Stockholm, Sweden. Sales revenue in 2017 amounted to approx. EUR 230 million.
About Prime Capital
Prime Capital AG is an independent asset management firm and financial services provider, focusing on institutional clients. The company specializes in Alternative Investments, in particular in Absolute Return, Infrastructure Investments and Private Debt. The company also offers asset management outsourcing. Prime Capital was founded in 2006, currently employs more than 75 people in Frankfurt, Luxembourg and London and is regulated by BaFin, CSSF and FCA. As of March 2018, Prime Capital has approximately EUR 10.4 bn Assets under Management, managed and administered.
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