Electricity generation from the project could equate to the annual consumption of around 95,000 Finnish households. Credit: Karsten Würth/Unsplash.

Sweden-based renewable energy developer OX2 has acquired the rights to a 475MW solar project in Huittinen, Finland, from SAJM.

OX2 will place the project, one of the largest in the country, in the mid-stage of its development portfolio for the second quarter of 2023.

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The project’s environmental impact assessment and permits are yet to be submitted.

It is estimated that the project could generate approximately 475 gigawatt-hours, equating to the annual electricity consumption of about 95,000 Finnish households if each is assumed to consume 5,000 kilowatt-hours of energy.

OX2 Finland and the Baltics solar power head Saku-Matti Mäki said: “The Huittinen project is an excellent addition to our solar project development portfolio and the project shows that Finland is very well positioned to become a forerunner in large-scale solar power in northern Europe.

“Solar power has the potential to make a considerable contribution to the emissions-free electricity in Finland.”

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OX2’s portfolio in Finland also includes solar projects in Kauhajoki and Loimaa.

The company has been developing these projects since 2018. Its development portfolio included a total of around 4GW of solar by the end of 2022.

In March 2023, in association with Renewable Power Capital, OX2 commissioned three wind farms in Finland: Merkkikallio, Puutikankangas and Rustari. Their total capacity is almost 170MW.

In January 2023, the company acquired six late-stage solar projects totalling 152MW in Andalusia, Spain.

This marked the second acquisition for the company in Spain since launching operations in the market in April 2022.

The six have already secured environmental permits and will be added as late-stage projects to the company’s portfolio.