OX2 has signed an asset management agreement for a wind farm owned by Greencoat Renewables PLC (a company managed by Schroders Greencoat LLP) in Sweden. The deal is a long-term, full-service asset management agreement for the operating Ersträsk South wind farm, and will also include support for the future acquisition of another asset.
OX2 will provide the technical, commercial and financial management of the Ersträsk South wind farm to ensure optimum asset performance on behalf of Greencoat Renewables PLC. The wind farm consists of 36 Enercon wind turbines (101 MW in total) and has been operational since 2021.
OX2 will also support Greencoat Renewables PLC in the acquisition of another asset in the future, which is currently under construction. Once this wind farm is operational, OX2 will also provide full scope asset management services.
“We look forward to taking responsibility for the management of these wind farms and ensuring efficient ownership and optimized profitability for Greencoat Renewables PLC. We also look forward to further strengthening our collaboration with Enercon and local stakeholders in Markbygden. With this contract, it will manage close to 500 MW of Enercon turbines in the area”, says Lars Bryngelsson, responsible for the technical and commercial management of OX2.
“We are delighted to enter into our first agreement with OX2 for the asset management of our wind farm in Sweden. OX2 is the market leader in renewable energy development and asset management in Scandinavia, we look forward to growing together in the region,” he says. Paul O’Donnell, Partner, Schroders Greencoat LLP.
Greencoat Renewables PLC is an investor in euro-denominated renewable energy infrastructure assets. Initially focused solely on the acquisition and management of operating wind farms in Ireland, the Company is now also investing in wind and solar assets in other European countries with stable and strong renewable energy frameworks. It is managed by Schroders Greencoat LLP, an experienced investment manager in the publicly traded renewable energy infrastructure sector.