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    OX2 sells Swedish battery of 42MW to Flower

    OX2 has entered into a deal with energy firm Flower to offload its 42-megawatt Bredhälla energy storage facility situated in Sweden. Construction of the facility, located in the Uppvidinge municipality in Southern Sweden, commenced towards the end of 2022. The setup comprises lithium-ion batteries housed in 20 containers, boasting a collective capacity of 42.5 megawatts/42.5 megawatt-hours.

     

    The primary function of Bredhälla will be to furnish ancillary services to Svenska Kraftnät, the Swedish entity overseeing the transmission system, thereby ensuring grid stability. Moreover, it will participate in wholesale markets by engaging in energy arbitrage. Completion of the transaction is contingent upon approval from Swedish authorities and Svenska Kraftnät, with the expected closure slated for the second quarter of 2024.

     

    Upon activation, OX2 will undertake the technical and commercial management of the facility for a ten-year period.

     

    Paul Stormoen, OX2 chief executive, said  “We are happy to announce the sale of Bredhälla, the first energy storage project that has been originated and developed by OX2.”

     

    “We have over the past few years built up a strong portfolio within energy storage, which is a technology that will be an important enabler in the ongoing energy transition.”

     

     John Diklev, Flower’s founder and chief executive, mentioned “We are thrilled to have reached an agreement for the Bredhälla project with OX2.”

     

    “This strategic addition to our portfolio allows us to develop new products and revenue streams for flexible assets, ultimately accelerating the energy transition. Furthermore, the acquisition underscores Flower’s position as a key player in the industry.”

     

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