OX2 has taken a final investment decision to develop energy storage projects with a combined capacity of 235 MW/470 MWh, in Finland. The projects will be co-located with the Kannisto and Korkeamaa wind power projects, both of which reached investment decisions in December 2025. Construction is scheduled to begin immediately, with commissioning expected in 2028.
Once operational, OX2 will manage both the technical and commercial operations of the projects. OX2 has secured long-term project financing from KfW IPEX-Bank, NatWest, Nordea, and SEB. Additionally, OX2 has signed a long-term flexible purchase agreement with Statkraft for the operation and optimisation of both the storage projects.
In January 2026, OX2 completed and transferred the ownership of the 455.4 MW Lestijärvi wind farm in Finland to a consortium comprising Kymppivoima, Oulun Energia, and Kuopion Energia. Construction of the project was carried out by OX2, which consists of 69 wind turbines and represents an investment of €650 million. OX2 will continue to manage the wind farm’s technical and financial operations.
