November 6, 2023
Oslo - Norway: Njordr and OX2 have entered into a cooperation agreement with the aim of jointly developing the Galmsjömyran wind power project in the Sandviken municipality, Sweden, through a joint owned company with OX2 holding 51% of the shares and Njordr 49%.
The collaboration combines both parties' skills and previous experience. The project will focus on creating additional benefits for nearby residents, the Sandviken municipality and the local community. Furthermore, specific initiatives to support biological diversity will be investigated and implemented. The size of the project has also been reduced from 21 to 17 wind turbines and the protection zone for nesting birds has been expanded.
The wind farm is expected to be commissioned in 2028 and is estimated to annually produce at least 360 GWh of fossil-free electricity, which corresponds to nearly 40% of the electricity consumption in Sandviken municipality.
“Njordr has several wind power projects under development in the Nordic countries as part of our strategy to develop renewable electricity production for new green industry and jobs. We are very pleased with the collaboration with OX2 regarding the Galmsjömyran. Njordr has developed this project from the beginning and sees great advantages in a partnering with OX2 to realise the project. Galmsjömyran can provide a significant addition of fossil-free electricity production to the region and Sandviken municipality”, says Niclas Erkenstål, CEO at Njordr.
“Galmsjömyran is a great example of a wind farm that can be realised within the near future and provide a significant addition of fossil-free electricity to a growing region and create the conditions for new business establishments. Together with the Sandviken municipality, we are now looking forward to developing the project to ensure local value creation to the benefit of the municipality and the region,” says Hillevi Priscar, Country Manager, Sweden at OX2.
For further information, please contact:
Njordr AB: Niclas Erkenstål, VD
Tel. +46 708 204 621 / firstname.lastname@example.org
OX2 AB: Edvard Lind, OX2 kommunikation
Tel. +4672 727 11 17 / email@example.com
Njordr is an ambitious developer of renewable wind and solar energy projects, aiming to build a leading position in the Nordics. We create long-term value through development of renewable electricity generation to power green industries and jobs.
We are ideally positioned to accelerate the regional energy transition with a substantial and diversified portfolio of large-scale greenfield projects. Our highly experienced team identifies, develops, and optimises high-value wind and solar projects, positioning Njordr to become a leadingNordic renewable energy company.
About Vanir Green Industries (VGI)
VGI is a Nordic impact business builder and investment company that builds and scales leading, sustainable, robust, and profitable companies that will help accelerate the energy transition. VGI was founded by Tore IvarSlettemoen, who also founded NYSE-listed Freyr Batteries. In addition to Njordr, the VGI portfolio consists of Blastr (decarbonized green steel), Removr (Direct Air Capture), Freija (green fuels) and Vanir Asset Management.
About OX2 AB (publ)
OX2 develops, constructs, and sells renewable energy solutions at scale.OX2 also offer management of wind- and solar farms after completion. OX2’s project development portfolio consists of in-house developed as well as acquired projects in onshore and offshore wind, solar, and energy storage, in various phases of development. The company is also active in developing projects based on other renewable energy technologies, such as hydrogen. OX2 is operating on eleven markets in Europe: Sweden, Finland, Estonia, Lithuania, Poland, Romania, France, Spain, Italy, Greece, and Åland. Since 2023 OX2 is also operating in Australia. Sales in 2022 was about 7.6 billion SEK. The company has about 400 employees and is headquartered in Stockholm, Sweden. OX2is listed on Nasdaq Stockholm since 2022. www.ox2.com