Swedish OX2 Decides to Invest in 50 MW Battery Storage Project at Fageråsen Wind Farm

en.Wedoany.com Reported - Swedish renewable energy developer OX2 AB has made an investment decision to build a 50 MW, 209 MWh battery energy storage system adjacent to the Fageråsen wind farm in the municipality of Malung-Sälen. This move further diversifies the company's hybrid renewable energy portfolio and strengthens its position in the Swedish market.

The energy storage system, designed with a four-hour duration, is a key component of the Fageråsen wind power project. OX2 announced in March of this year an investment of approximately SEK 3 billion (around EUR 270 million) in the wind project. Once completed, the wind farm will be the first onshore wind farm wholly owned by OX2 in Sweden, and the new battery storage facility will also be owned by the company.

Matthias Taft, CEO of OX2 AB, stated that integrating the energy storage system with the Fageråsen wind farm will solidify the company's position in the Swedish market and add electrification solutions to its portfolio. He believes that combining wind power with energy storage helps optimize the match between electricity production and demand, improving the utilization efficiency of the generated power. Through this approach, the company not only adds new renewable energy capacity but also contributes to building a more resilient and future-oriented energy system in Sweden.

The funding for the storage facility comes from extending existing commitments with DNB Bank ASA and UniCredit S.p.A., which were previously arranged for the Fageråsen wind farm.

OX2 has signed a battery energy storage system supply contract with Trina Solar Co., Ltd. Construction is expected to begin this summer, with operations planned to start by the end of 2027.