OX2 has sold a 45MW wind farm in Eastern Poland to funds managed by Octopus Renewables.
The wind farm, comprising 15 wind turbines, will be constructed in Huszlew, in the Mazowieckie province in East Poland.
OX2 will directly begin construction of the wind farm with delivery expected in 2023.
It has developed the wind farm since the project rights was acquired in 2020, and later same year won the Polish state auction for renewable energy.
OX2 will deliver the project to Octopus in operating state under a bespoke EPC contract.
Construction at the site is starting this summer and the wind farm is expected to be handed over during 2023.
Once commissioned, OX2 will be responsible for the technical and commercial management of the project, ensuring that it generates maximum output and that it is operated in a safe and secure manner.
The total production is estimated to be 130GWh per year, which is the equivalent to the annual power consumption of around 30,000 households; thereby avoiding around 45,000 tonnes of CO2 emissions per year from fossil fuels.
The projects will support Poland’s energy transition by expanding the country’s renewable energy capacity and reducing dependency on power production from fossil fuels.
OX2 chief executive Paul Stormoen said: “I am happy to see a second wind farm sold to Octopus in just two years and that we have been able to provide Octopus with their first Polish wind farm investment.
“Poland has become one of OX2s core European markets and our team has really stepped up to the challenge of leading the necessary energy evolution in Poland.”
Octopus Renewables investment director Partha Vasudev said: “As one of Europe’s leading investors in onshore wind, this is an exciting acquisition in a market that we have been focused on for quite some time and see ourselves building a larger presence in the future.
“The Polish wind market is underpinned by strong fundamentals, and we are delighted to work with OX2 on this deal, a partner that shares our mission for hastening the energy transition.”