Sweden-headquartered renewables developer OX2 Australia has closed an agreement to sell an unnamed 119 MW solar farm from its Australian portfolio of renewables projects, to an undisclosed buyer.
Described as being located in Victoria where OX2 has two solar farms under development, the capacity aligns with its 118.8 MW Horsham solar farm.
Situated one kilometre from the Horsham terminal substation, Horsham solar farm is 330 kilometres northwest of Melbourne and within Victoria’s Western Victoria renewable energy zone (REZ).
OX2 says it will manage the construction of the 225,000-panelled solar farm on behalf of the buyer, which is expected to be operational in 2027.
Once commissioned, OX2 will also manage the site’s operations under a five-year agreement, including technical and commercial aspects of the project to optimise the facility.
The annual production from the solar farm is estimated to be 242 GWh, enough electricity to power approximately 51,000 Australian households.
OX2 Australia Country Manager Rachel Watson said since the company’s entry to Australia in 2023, a lot of work has been done getting the late-stage project ready for financial close.
“We have a solid project development portfolio and there is currently a lot of activity both in our solar and energy storage projects,” Watson said.
Following the transaction, OX2’s project development portfolio in Australia will consist of around 1 GW in solar projects and 230 MW in energy storage projects.
OX2 acquired Horsham solar farm with its $126 million (USD 84.8 million) takeover of developer Esco Pacific.
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