The Swedish renewable energy company OX2 has signed a cooperation agreement with the Finnish investment group Dasos Capital to develop 10 solar parks in Estonia. The capacity of the first 5 solar parks will total 500 MW and the projects are expected to supply 500 GWh, enough to supply electricity to about 100,000 households.
OX2 will be responsible for the permitting, technical design and construction of the projects. Partners will clarify the environmental impact and land usage options, including the need for permits, during the course of 2023. The final locations and sizes of the solar parks will be confirmed during the designing, permitting and planning processes between 2023 and 2025. They plan to reach an investment decision for the first five projects in 2024 or 2025.
OX2 has operated in Estonia since 2022, and it has 665 MW of wind power projects in the pipeline in the country. As of end-2021, solar represented 15% of Estonia’s installed capacity with 414 MW, and about 5% of its power generation with 354 GWh.
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