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OX2 signs cooperation agreement to develop 500 MW onshore wind farms in Estonia

Renewable energy developer OX2 has signed a cooperation agreement with TMV Green to develop about 500 megawatts (MW) of onshore wind projects in Estonia.

TMV Green will be responsible for land use, licensing and grid connection and OX2 will be responsible for the financing, construction and implementation of the projects in the portfolio.

“Wind power is the most cost-efficient means of generating electricity,” commented Teemu Loikkanen, Regional Manager Finland and the Baltics at OX2. “In addition, wind power provides an excellent opportunity for Estonia to significantly increase energy self-sufficiency in a short amount of time. With our experience and expertise, we will realise the projects quickly and cost-effectively.”

The projects OX2 and TMV Green will cooperate around are in an early phase and is not part of OX2’s project development portfolio. OX2 and TM Voima, the sister company of TMV Green, started their first cooperation in Finland in 2018 and this agreement will significantly expand OX2’s operations in Estonia.

“Our common goal is to generate clean energy and make Estonia more energy self-sufficient,” said Kim Tahkoniemi, CEO of TMV Green. “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.”

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