Swedish independent power producer (IPP) OX2 has started construction work at its Muswellbrook project, which combines 135MW of solar capacity and 100MW of batteries.
The project will cover 482 hectares in the Hunter Central Coast Renewable Energy Zone of New South Wales on land “formerly associated with coal mining operations,” according to the company. Building work will involve the construction of 2.4km of new overhead wires to connect to the state’s electricity grid, and OX2 expects to complete construction in 2028.
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The project has been developed in tandem with two Japanese entities: energy company Idemitsu, which worked on the project development, and bank MUFG, which has led on project financing. OX2 has already secured an offtake agreement with an unnamed “international offtaker”, and this deal will cover both the project’s solar and battery energy storage system (BESS) components.
“I’m proud of the work that has brought this project to life and of our contribution to strengthening the energy supply in New South Wales,” said OX2 CEO Matthias Taft. “The investment highlights our long-term commitment to Australia and supports our growth as an independent power producer.”
OX2 secured approval for the project under Australia’s Environment Protection and Biodiversity Conservation (EPBC) Act last August, and is the company’s second solar-plus-storage project in the state to receive approval. Australia has been a focus of development for the company, which has transitioned from a developer to an IPP over the last year, since its acquisition by investment firm EQT in October 2024.
Current CEO Taft started work in September 2025, following work at German renewables firm BayWa r.e. over the previous decade; he started managing the company’s renewable energy division in 2013 and was appointed CEO of the German company in 2021.
