OX2 divests 49% stake in 6 GW offshore wind projects in the Gulf of Bothnia

Ingka Investments has agreed to purchase a 49% stake in OX2's three offshore wind projects in Finland. The transaction, which involves Halla, Laine, and Tyrsky projects, aims to generate up to 6,000 MW of total installed capacity, and upon completion, could produce up to 29 TWh representing more than one-third of electricity consumption in Finland in 2022.

In the event of successful permit procurement and after both parties have agreed to continue development, OX2 will receive a pre-agreed price of 0.8 MSEK per MW for the 49% of the promised capacity. Halla and Laine are two of the most advanced offshore wind projects in Finland and could become operational by the end of this decade.

The Halla, Laine, and Tyrsky project offers excellent wind speed and shallow water depths, which are conducive to its optimal functionality. It is another step forward in Ingka's sustainability project.