OX2 has signed a cooperation agreement with TMV Green Ou to develop 500MW of onshore wind projects in Estonia.
TMV Green will be responsible for land use, licensing, and grid connection and OX2 will be responsible for the financing, construction, and implementation of the projects in the portfolio.
The projects are in the early phase development and do not form part of OX2’s project development portfolio.
OX2 and TM Voima, the sister company of TMV Green, started their first cooperation in Finland in 2018 and this agreement will significantly expand OX2’s operations in Estonia.
OX2 Baltics regional manager for Finland Teemu Loikkanen said: “Wind power is the most cost-efficient means of generating electricity.
“In addition, wind power provides an excellent opportunity for Estonia to significantly increase energy self-sufficiency in a short amount of time.
“With our experience and expertise, we will realise the projects quickly and cost-effectively.”
TMV Green chief executive Kim Tahkoniemi said: “Our common goal is to generate clean energy and make Estonia more energy self-sufficient.
“At the moment, we are negotiating with landowners and municipalities to find suitable areas for the wind farms.
“By partnering with OX2, we have access to the latest technological know-how in the field and can ensure that appropriate funding and resourcing are made available throughout the projects.”