Winds of Change
Founded in 2004 on the very idea of making sustainable and large-scale energy solutions profitable, OX2 is now one of Europe’s leading companies in the sustainable energy business. The goal is simple, a 100% sustainable planet. No more, no less. But, even if the business itself is about sustainability, how do you build a truly sustainable company?
OX2 develops, finances, constructs and manages large-scale wind parks across Europe. Through technological advancement and discoveries OX2 has realized over 2,3 GW of wind power in the Nordic region alone. In 2020 Altor invested in a minority share of OX2.
“We are very impressed by the employees at OX2, as well as the pace with which the management had grown the company and the real output of energy coming from that growth. We wish to keep driving change while making OX2 the leading company in renewables,” says Petter Samlin, Partner at Altor.
OX2’s business is sustainability. But building a truly sustainable company requires a broad approach. It is a question of both planet and profit. And people of course. For OX2 that means having the right talent, people with both the passion and the knowledge to drive change. But it also means building relationships with local communities so that everyone feels involved when development towards a more sustainable future takes place.
“We are on an exciting mission, leading the ongoing energy transition towards renewables. The goal for the next couple of years is to keep creating growth while adding new geographies and technologies,” says Paul Stormoen, CEO for OX2.
When the goal is to permanently increase the amount of renewable energy in the market it is important that the economic side also is viable. Large scale change will demand commercial potential for wind power, being built on its own profitability. OX2 activity is proof that it can be done by developing wind farms but without any subsidies. This is only the beginning of the commercial evolution.