Swedish project developer OX2 acquires Australian ESCO Pacific

OX2 AB, a renewable energy project developer previously active primarily in Scandinavia and headquartered in Stockholm, is acquiring Australia's ESCO Pacific for 126 million Australian dollars (USD 82.8 million) – subject to »the fulfillment of certain conditions.« The company with 21 employees and headquarters in Richmond, Victoria, specializes in project development of large-scale solar power plants and battery storage, and brings to the transaction a portfolio totaling 1.42 gigawatts (GW), including 1.22 GW of solar and 200 megawatts (MW) of storage projects, according to OX2. Of these, 317 MW are in a »late« stage of development, 395 MW are in a »mid« stage, and 708 MW are in an »early« stage. Additional projects are in the pipeline; ESCO itself puts its pipeline at more than 2 GW.

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