The renewable energy company OX2 has signed a cooperation agreement with TMV Green Oü

OX2 expands its operations to Estonia

 The renewable energy company OX2 has signed a cooperation agreement with TMV Green Oü for the development and implementation of approximately 500-megawatt wind power projects in Estonia. TMV Green will take a lead in measures related to land use, licensing and grid connection planning of the project portfolio. OX2 is in charge of the financing, construction and implementation of the projects.
Cooperation between OX2 and the key employees of TMV Green Oü started in Finland in 2018. The present agreement will significantly expand OX2's operations in Estonia.

 "In recent years, Estonia has had to import much of its electricity from abroad. The unprofitability of its own fossil production and the emission load caused by fossil fuels have led to the country’s increased import dependency. Wind power is the most cost-efficient means of generating electricity. In addition, wind power provides an excellent opportunity to increase energy self-sufficiency capacity significantly in a short amount of time. We believe that our experience and expertise enable us to carry the projects through as quickly and cost-effectively as possible," says Teemu Loikkanen, OX2’s Regional Manager Finland and the Baltics.

  "Our common goal is to generate clean energy and make Estonia more energy self-sufficient. At the moment, we are negotiating with landowners and municipalities to find suitable areas for the wind farms. By partnering with OX2, we have access to the latest technological know-how in the field and can ensure that appropriate funding and resourcing are made available throughout the projects," says TMV Green's CEO Kim Tahkoniemi.

Jaanus Kivirand, Development Director at TMV Green, continues: "We will work closely with OX2's experts in the different phases of the project to ensure that the solutions decided upon during the licensing phase are technically and economically feasible and that the impact of the projects on residents and the environment is minimised."

OX2 has built the most onshore wind power in Europe since 2015 and is currently installing 800 megawatts worth of wind power in Finland. OX2 is also responsible for the implementation of Finland's largest wind power project in Lestijärvi. Once completed, the Lestijärvi farm will generate 455 megawatts of energy.

Additional information:
Teemu Loikkanen, Regional Manager Finland and the Baltics, OX2, tel. +358 50 373 6242, teemu.loikkanen@ox2.com

Kim Tahkoniemi, CEO, TMV Green Oü, tel. +358 45 773 12540, kim.tahkoniemi@tmvoima.fi

TMV Green Oü in brief

TMV Green Oü plans, licenses and constructs wind and solar power projects in Estonia. TMV Green Oü is a sister company of TM Voima Oy. The companies are currently developing wind and solar power projects in Finland and Estonia and are exploring expansion options to other countries. In addition, they build, repair and maintain 110–400 kV electricity grids and energy infrastructure in Finland and Estonia. The companies’ turnover in 2021 was a good EUR 30 million and they employ about 80 people.

OX2 in brief

OX2 develops, constructs, and sells onshore and offshore windfarms and solar PV farms. OX2 also offers management of wind- and solar farms after completion. OX2’s project development portfolio consists of in-house developed as well as acquired wind and solar power projects in various phases of development. The company is also active in developing projects based on other renewable energy technologies, such as hydrogen and energy storage. OX2 is operating on nine markets in Europe: Sweden, Norway, Finland, Lithuania, Poland, Romania, France, Spain and Italy. Sales in 2021 was about 5 billion SEK. The company has almost 300 employees and is headquartered in Stockholm, Sweden. OX2 is listed on Nasdaq First North Premier Growth Market since 2021[A1] . www.ox2.com