OX2 has completed the sale of 49% of three offshore wind farms in Finland, with a potential capacity of 6GW, to IKEA owner Ingka Investments.
The deal was subject to customary competition merger filing approval.
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Merger clearance has now been obtained and the transaction has been closed, OX2 said.
The transaction is expected to affect OX2’s net sales and operating profit by about SEK390m and SEK300m respectively in the second quarter 2023.
Following successful permitting, and if both parties at that point in time agree to continue development, OX2 will receive a pre-agreed price equivalent of SEK0.8m per MW for the 49% of the planned capacity.