Orrön Energy AB has successfully taken over ownership of the Karskruv wind farm in Uppvidinge municipality, Sweden, marking a significant achievement in their partnership with renewable energy developer OX2. The wind farm, featuring 20 Vestas turbines with a total installed capacity of 86 MW, has transitioned to Orrön Energy’s stewardship.
Project Origins and Partnership Dynamics
The collaboration between OX2 and Orrön Energy was formalized through an agreement inked in April 2021, outlining their joint commitment to the construction of the Karskruv wind farm. The project, executed with noteworthy attention to environmental considerations, aligns with the goal of enhancing biodiversity and social values in the region.
Several steps have been taken to enhance biological diversity at the site, with a notable initiative being the restoration of pastures. This undertaking, conducted in cooperation with landowner Sveaskog, Orrön as the wind farm proprietor, a local farmer, and OX2, seeks to create a habitat supporting diverse species, contributing to an overall improvement in biological diversity.
OX2 continues to play a pivotal role in the ongoing success of the project, retaining responsibility for its technical and commercial management as stipulated in the agreement with Orrön Energy.
As of the end of the third quarter, OX2 was actively engaged in constructing a cumulative 1,335 MW across four diverse markets. With several projects slated for completion by the close of 2023, OX2’s commitment to developing, constructing, and selling sustainable energy solutions at scale remains unwavering.
Corporate Overview: OX2
Headquartered in Stockholm, Sweden, OX2 is a leading developer and provider of renewable energy solutions. Operating in eleven European markets, the company’s portfolio spans onshore and offshore wind, solar, and energy storage projects. Since 2023, OX2 has expanded its operations to Australia, demonstrating its dedication to sustainability through active involvement in projects across various renewable energy technologies, including hydrogen.
Strategic Move by Orrön Energy
The successful completion and handover of the Karskruv wind farm represent a strategic asset for Orrön Energy, significantly augmenting its annual power generation to 1100 GWh. Situated in the SE4 price area in southern Sweden, the wind farm is anticipated to generate substantial revenues. Furthermore, the reduction in 2023 CAPEX guidance from €80 million to €75 million underscores the project’s financial efficiency.
Daniel Fitzgerald, CEO for Orrön Energy, expressed contentment with the project’s punctual delivery and emphasized the long-term advantages it brings to the company. The seamless acquisition of Karskruv underscores the quality and intrinsic value of Orrön Energy’s assets in the renewable energy sector.
The Karskruv wind farm serves as a testament to the collaborative efforts of OX2 and Orrön Energy in advancing sustainable energy initiatives, promoting biodiversity, and contributing to the enduring development of the region.