OX2 Secures EUR 73 Million Financing for Rutki Photovoltaic Farm in Poland
Renewable energy developer OX2 has secured EUR 73 million in financing for the Rutki photovoltaic farm project in Opole province, Poland. The financing agreement was signed with Nord/LB bank, a key supporter of renewable energy initiatives.
The Rutki photovoltaic farm, set to become one of the largest PV plants in Poland, will have a capacity of 100 MW, comprising approximately 145,000 photovoltaic modules. Once operational, the plant is expected to produce around 108 GWh of electricity annually, equivalent to the consumption of 30,000 households. Construction is underway, with completion targeted for early 2025.
The project has secured support through Poland’s auction system, with a difference contract covering half of its planned electricity production. This marks a significant shift for OX2 as it transitions into an independent power producer (IPP). CEO Paul Stormoen stated, “We are entering a new era for our company and this project demonstrates our ability to successfully implement key renewable energy technologies.”
OX2, wholly owned by EQT, has a portfolio of 42 GW across various renewable energy technologies, including photovoltaics, energy storage, and wind energy. The company operates in Europe and Australia, employing around 500 people.
The Polish branch of OX2, now led by Tomasz Guzowski, has also initiated projects such as the Juniewicze wind farm and the country’s largest battery energy storage facility, further advancing Poland’s energy transition.
Source: Gramwzielone
