Various news outlets including Renewables Now and Saur Energy have reported that Swedish renewable energy developer OX2 AB successfully acquired several PV and wind projects in Greece with a total generation capacity exceeding 500MW. Details about the sellers and values of the wind and PV portfolios have yet to be disclosed.

These PV and wind projects are located in different regions of Greece and at different stages of development. Information about their scales and commissioning dates have yet to be revealed as well.

OX2 told news outlets that it will be developing these projects with “experienced” local partners. Specifically, OX2 wants co-developers that have a track record of more than 4GW of authorized projects. At the same time, OX2 is seeking other business opportunities in the country.

Commenting on the acquisition of the two portfolios, Paul Stormoen, CEO of OX2, said that Greece is “a very interesting market” as the country aims to replace coal-fired generation with renewable generation for 15TWh of electricity by 2028. Furthermore, the country’s installation targets for solar PV and wind power are 5GW and 3GW respectively by 2030. Stromoen added that his company can expedite Greece’s energy transition by developing projects that can capture investors’ attention.

OX2 has formally expanded into the Greek energy market with the acquisition of the two portfolios. Also earlier in December last year, OX2 won 28MW of solar PV and almost 120MW of wind power in an energy auction held by the Polish government.