Orrick Advises OX2 on Sale of Stake in Offshore Wind Development Portfolio to Ingka Investments

August.30.2022

We advised OX2 on the sale of a 49% stake in three offshore wind projects in Sweden to Ingka Investments. The projects – Galatea-Galene, located off the coast of Halland, Triton, located off the coast of Skåne and Aurora, located off the coast of Gotland and Öland – have the potential to reach an aggregate installed capacity of 9 GW and to produce up to 38 TWh combined, once operational, corresponding to more than 25% of the electricity consumed in Sweden in 2021. The projects are under development with the main wind farm permit applications submitted.

The Orrick team advising OX2 was led by Simon Alsey, supported by Evan Stergoulis, Adam Smith, Barry Cahill, Craig Bruce, Rebecca Grevitt, Oliver Sikora, Sarah Teasdale and David O'Donovan.

Orrick advised on the transaction in collaboration with Mannheimer Swartling Advokatbyrå AB.