Wedoany.com Report-Oct 14, Swedish renewables developer OX2 AB (STO:OX2) on Monday said it has acquired an early-stage onshore wind power project in Australia with a planned total installed capacity of up to 1 GW.

The project, located several hours north of Perth, in Western Australia, will also include a battery energy storage system with an indicative size of 100 MW, which will be developed ahead of the wind farm.

The project’s site encompasses more than 20 landowners and OX2 will work with the original project developers, which were not named, to handle the approval process.

This marks OX2’s first onshore wind project in Australia, following its 2023 market entry through the acquisition of solar developer ESCO Pacific. Since then, OX2 has divested three solar projects and now holds a development portfolio in Australia of about 1 GW of solar and 230 MW of energy storage across Victoria, New South Wales and Queensland.

Commenting on the acquisition, Rachel Watson, country manager OX2 Australia, said: "It fulfills the promise made when OX2 entered Australia, that the company would expand into onshore wind. We look forward to realising this project, which is our first in Western Australia."

Swedish private equity firm EQT AB recently completed a tender offer for OX2, valuing the developer at SEK 16.35 billion (USD 1.58bn/EUR 1.44bn).