OX2 Takes Investment Decision on 50 MW Battery Storage at Fageråsen Wind Farm

Stockholm/Malung-Sälen — Swedish project developer OX2 AB has taken the investment decision to build a 50 MW battery storage system with a capacity of 209 MWh next to the Fageråsen wind farm in the municipality of Malung-Sälen. The move expands the company's hybrid renewable energy strategy and strengthens its position in the Swedish market.

The four-hour storage system is part of the Fageråsen wind farm project, for which OX2 had already announced investments of around SEK 3 billion (approximately EUR 270 million) in March. Once completed, the wind farm is set to become the first onshore wind farm in Sweden fully owned by OX2. The new battery storage facility will also remain under the company's ownership.

„The energy storage together with the Fageråsen wind farm, strengthens our presence in the Swedish market and adds to our portfolio with solutions for electrification. The combination of wind and energy storage enables better alignment of production with demand and ensures more efficient use of the electricity generated. In this way, we do not only add new renewable capacity but also contribute to a more resilient and future-proof energy system in Sweden", says Matthias Taft, CEO of OX2 AB.

Financing for the storage facility was secured through an extension of existing commitments with DNB Bank ASA and UniCredit S.p.A., which had already been arranged for the Fageråsen wind farm.

OX2 has signed a contract with Trina Solar Co., Ltd. for the supply of the battery storage system. Construction is scheduled to begin in summer, with commissioning planned for the end of 2027.

Source: IWR Online, 02 Jul 2026