On May 12, OX2 announced that an agreement had been signed with Ingka Investments for the sale of 49 percent of three offshore wind projects in Finland, with a potential capacity of about 6,000 MW. The deal was subject to customary competition merger filing approval. Merger clearance has now been obtained and the transaction has been closed. The transaction is expected to affect OX2’s net sales and operating profit by about 390 MSEK* and 300 MSEK* respectively in the second quarter 2023. Following successful permitting, and if both parties at that point in time agree to continue development, OX2 will receive a pre-agreed price equivalent of 0.8 MSEK* per MW for the 49 percent of the planned capacity.

*EUR/SEK exchange rate 11.40