Swedish solar developer OX2 revealed yesterday (10 September) that it has sold two solar PV projects in Australia, totalling 137MWp, to renewable energy developer European Energy.
The sale includes the project rights for the Lancaster solar PV project, which has a generation capacity of 106MWp and is located in Victoria, as well as the 31MWp Mulwala project farm, located in New South Wales. Both solar PV projects are expected to become operational in 2026.
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Once operational, the cumulative annual production of the solar PV projects is estimated to be about 255GWh.
The Lancaster solar PV project is located 9km east of Kyabram in northern Victoria and is currently under development. Once complete, it will cover 172 hectares.
Mulwala, on the other hand, is located 2km north of Mulwala, New South Wales, near the border with Victoria. It is near OX2’s 175MW Finley River Solar Farm, the Lancaster Solar Farm, and the 130MW Glenrowan Solar Farm, which is currently in operation.
CIMIC Group company UGL finished construction of the Glenrowan project, which went into full operation in March 2024. OX2 remains involved in the project via long-term technical and commercial management services.
OX2 continues fire sale in Australia
The sale comes just days after OX2 announced it had agreed to sell a 119MW solar PV project in Victoria, Australia, to an undisclosed bidder. Although not specifically mentioned by OX2 in their media statement, the undisclosed project in Victoria is believed to be its Horsham Solar Farm, situated around 5km east of the city’s central business district.
The project is also anticipated to feature an on-site 50MW/100MWh battery energy storage system (BESS), and the annual production from the solar PV project is estimated to be 242GWh.
Following these transactions, OX2’s development portfolio in Australia includes projects totalling 1,185MW.
As PV Tech reportedon Monday (9 September), Rachel Watson, country manager for OX2 Australia, said that since the company’s entry into Australia, it has enhanced its team and is making significant progress with late-stage projects aimed at financial closure.
“Since our entry to Australia last year, we have strengthened our local team, and a lot of work has gone into getting the late-stage projects ready for financial close. We have a solid project development portfolio and there is currently a lot of activity both in our solar and energy storage projects.” Watson said.
