OX2 has signed an agreement with Flower, a Swedish energy technology company, to sell the Bredh\u00e4lla energy storage facility in Sweden. OX2 began construction of Bredh\u00e4lla, located in Uppvidinge municipality in southern Sweden, at the end of 2022. The facility consists of batteries with lithium-ion technology with a total capacity of 42.5 MW\/42.5 MWh spread over 20 containers. Bredh\u00e4lla will provide support services to Svenska Kraftn\u00e4t to ensure the stability of the electricity grid as well as arbitrage services in the electricity market. <\/p>\n\n
The deal is subject to approval from the Swedish authorities as well as from Svenska Kraftn\u00e4t and is expected to be completed in the second quarter of 2024. After the facility is commissioned, OX2 will be responsible for the technical and commercial management under a 10-year agreement. <\/p>\n\n
– We are pleased to announce the sale of Bredh\u00e4lla, the first energy storage project that OX2 has started and developed. In recent years, we have built up a strong portfolio in energy storage, a technology that will contribute to the ongoing energy transition, says Paul Stormoen, CEO at OX2. <\/p>\n\n
– We are happy to have reached an agreement on the Bredh\u00e4lla project with OX2. This strategic addition to our portfolio enables us to develop new products and revenue streams for flexible energy resources, which contributes to driving the energy transition. In addition, the acquisition underlines Flower’s position as a leading player in the industry, says John Diklev, CEO and founder of Flower. <\/p>\n\n
OX2’s total portfolio in energy storage amounts to approximately 1 GW with projects in Sweden, Finland, Poland and Australia.<\/p>\n\n
For further information, please contact: Henrik Vikstr\u00f6m Investor Relations Director Tel. +4670 952 80 06 henrik.vikstrom@ox2.com Edvard Lind OX2 communications Tel. +4672 727 11 17 press@ox2.com <\/p>\n\n
bout OX2 AB (publ) OX2 develops, builds and sells large-scale solutions in renewable energy. OX2 also offers management of wind and solar parks after completion. OX2’s development portfolio consists of both self-developed and acquired projects in onshore and offshore wind power, solar energy and energy storage, in various phases. The company is also active in technology development linked to renewable energy types such as hydrogen. OX2 has operations in eleven markets in Europe: Sweden, Finland, Estonia, Lithuania, Poland, Romania, France, Spain, Italy, Greece and \u00c5land. Since 2023, OX2 also operates in Australia. During 2023, OX2 had a turnover of approximately SEK 7.8 billion. The company has approximately 500 employees and headquarters in Stockholm. OX2 is listed on Nasdaq Stockholm since 2022. www.ox2.com Attached files OX2 sells its first energy storage facility <\/p>\n","protected":false},"excerpt":{"rendered":"