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Climate Love
Climate Review Score ranking:
OX2
5 w
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Can offshore wind farms help restore ecosystems that have run out of oxygen? This question will be answered by a new project led by OX2 and SMHI, the Swedish Meteorological and Hydrological Institute. Oxygen that is created as a byproduct of hydrogen production could be the key to reinvigorating the deepest levels of the Baltic Sea, which have been rendered toxic by eutrophication and isolation. Low oxygen levels in the Baltic Sea have been an issue for a long time. Due to how the Baltic is shaped, new water rarely reaches its deepest parts, meaning that these depths are deprived of oxygen as organic matter is degraded. As more organic matter is added to the sea through eutrophication and similar processes, this state of hypoxia, meaning low oxygen levels, becomes increasingly alarming. When no oxygen is left in the water for an extended time, hydrogen sulfide (H2S) is formed, which is toxic to all marine life. This causes ripple effects across the whole food chain, where the loss of plants and benthic animals affects the fish population, which in turn affects birdlife and marine mammals, potentially putting the whole ecosystem at risk. To reverse this process, the water must be provided with an influx of oxygen, usually through inflows of new, oxygenized water. But there may be another way. Can hydrogen production save the Baltic Sea? During hydrogen production, one of the byproducts is oxygen, which is usually vented into the atmosphere. Now OX2, together with SMHI, will explore the possibility of redirecting oxygen from offshore energy parks into the deep waters of the Baltic Sea. The purpose of the project is to evaluate the technical preconditions to pumping and spreading oxygen at the seabed, as well as the positive effects this can have on oxygen levels and ecosystems. As part of this project, oxygen from the hydrogen production of offshore wind parks Neptunus and Pleione will be used to oxygenate the nearby waters in the Baltic Sea. OX2 has applied to the government for approval to produce 370,000 tonnes of hydrogen annually, which would amount to almost 3 million tonnes of oxygen each year. SMHI will analyze the effects this oxygen can have on the surrounding environment. At the same time, OX2 will contribute with technical expertise on how to best design hydrogen production to release oxygen into the water effectively. The future of hydrogen production? If this project is a success, it could change how we deploy offshore wind in the future, as they can become valuable assets for ecosystems that have become vulnerable due to a lack of oxygen. “This could potentially be a great opportunity to not only produce fossil-free energy but also contribute with nature positive actions to restore a healthier sea. At the same time, all interventions in nature have to be done carefully and thoroughly. That is why we are very happy to be working with SMHI to investigate the opportunities with this technique,” says Elina Cuellar, project manager, OX2. https://www.ox2.com/newsroom/news/2024/ox2-and-the-swedish-meteorological-and-hydrological-institute-will-examine-how-ox2s-energy-parks-can-oxygenate-the-baltic-sea/
OX2
18 w
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We recently joined We Don’t Have Time onstage for COP28, the biggest climate summit of the year to discuss the latest developments of renewable energy systems both in the Nordics and globally to answer the question of whether or not renewables can bridge the gaps in our energy systems once fossil fuels are phased out. Our Chief Sustainability, Communications, and People Officer Katarina Grönwall joined the Stockholm studio of the Climate Hub to both co-host with moderator Catarina Rolfsdotter-Jansson, and to set the scene for a session focusing on the latest sustainability solutions. One of the main points of focus for us during this session was renewables that worked hand in hand with biodiversity, and how biodiversity can indeed “contribute to attacking the climate crisis”. For the last few years at OX2, we have been focusing not on just the “what” of sustainability, but the “how”, posing the question of what can be done to not just provide new wind and solar farms for the planet, but what can be done to address the natural regions that these farms are being constructed in, both to address any disparities in biodiversity, and to work with nature, rather than against it. This is supported by a mandate that “by 2030, we should have biodiversity initiatives in all of the solar and wind farms that we construct”. The Åland Story - A Case of Biodiversity Meeting Sustainability Later on during the session, our own Lotta Nummelin, Permit Manager at OX2, shared more on our biodiversity-focused projects and how we endeavor to be nature-positive. One of the main pillars of this is our focus on Mitigation Hierarchies, a series of parameters we use in all our projects to ensure they are in line with nature and biodiverse goals. “Step one is to avoid harm… so we avoid areas with high natural values. Step two is minimizing environmental impact using better methods. For example, we do our work at different times of the year [to ensure the least amount of detrimental effects to the local fauna and flora].” This is an ever-improving process, as we simultaneously collect a lot of data and run field models to accurately measure our impact and to track the betterment of the area as a result of our biodiversity initiatives. One example of this that we shared was Project Björkskär, where we “test different surfaces, different structures, and different materials to find out what kind of foundations we can use and different artificial structures that can fit our conditions and increase biodiversity”. Summarizing the session, Lotta reflected on the state of affairs for initiatives like these: “We live in incredibly interesting times, we have an interesting journey ahead of us. We are combating climate change, but at the same time we are ensuring that we don’t lose biodiversity, but we could even increase it!” COP28 has already proven itself to be a success by bringing into reality a historic deal on fossil fuel phase-outs - a radical and vital move that is going to make our renewable energy projects all the more critical. We look forward to continuously working in a nature positive manner while providing the green energy systems that are going to fuel the planet of the future! To see our full session at The Climate Hub, watch below! https://www.youtube.com/live/vwghWtoLjsA?feature=shared&t=7571 About the COP28 Climate Hub We Don’t Have Time hosted the COP28 Climate Hub, in partnership with Race To Zero, UNDP, the Exponential Roadmap Initiative, and the Fossil Fuel Non-Proliferation Treaty Initiative, amplifying the important high-level discussions at COP28 to a global audience. The live broadcast spanned over 10 days and covered a variety of climate-related topics. Rewatch the COP28 Climate Hub anytime on We Don’t Have Time Play.
OX2
26 w
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In the heart of the Wysoka municipality in Poland, OX2 is delivering on our ongoing renewable energy projects and complementary sustainability initiatives that build upon biodiversity and ecosystem impact mitigation. We’re even going as far as building treehouse homes for the woodland critters who make their habitat in the region. This initiative is set to not only bolster clean energy production but also nurture the local environment through enhanced ecosystem services. Striking the Balance: A Positive Impact on Local Environment The Wysoka wind farm, while providing a new avenue for clean energy like other OX2 projects, presents a challenge in terms of its environmental footprint. To establish necessary access roads, approximately 90 trees will need to be felled. As part of their wider sustainability initiatives, we’ll be implementing a strategic plan that involves planting a remarkable 167 trees and shrubs of local species, including small-leaved lime, Norway maple, oak, hornbeam, hazel, hawthorn, rosehip, dogwood, lilac, and elder. This reforestation strategy is set to yield a range of positive outcomes for the local environment. The chosen local species are not only resilient but also contribute significantly to carbon sequestration. As has been proven in other biodiversity studies, approaches like these are far better long-term investments than mono-cultures as they are resilient to droughts, wildfires, and are far more self-sufficient - a factor that has become all the more important in light of the recent climate disasters of this summer. They also provide the environments needed for local species to thrive, something that OX2 are lending support to by using the felled trees to build treehouses for the variety of species in the area, including bats, bees, and birds. And by efficiently accumulating carbon both above and below the ground, the wind farm site becomes a carbon sink, mitigating the effects of climate change and bolstering biodiversity. A Long-Term Vision for Carbon Sequestration At first glance, it might seem counterintuitive that cutting down trees would lead to an increase in carbon accumulation. However, our meticulously designed reforestation plan tells a different story. While there might be a temporary dip in carbon accumulation due to initial tree felling, this is dwarfed by the long-term benefits arising from our more holistic approach. In fact, in other regions around the world, there has been demonstrable evidence that biodiverse regions of flora are able to sequester as much as twice the amount of carbon than “plantations” or mono-cultures. By managing the felled trees strategically, OX2 ensures that carbon continues to be stored within the ecosystem and used to foster greater carbon sequestration capabilities in the region we operate. A Look into the Numbers: Carbon Capture and Storage The results of our reforestation initiative are nothing short of remarkable. Consider the numbers: over a 50-year time horizon, if no measures were implemented, the ecosystem would capture and store approximately 136 tonnes of carbon (equivalent to 498 tonnes of CO2 from the atmosphere). However, when the proposed planting plan takes place, the carbon capture and storage leap to a whopping 297 tonnes of carbon (equivalent to 1,089 tonnes of CO2 from the atmosphere). In essence, the carbon capture and storage increase significantly post-tree felling and planting, outpacing what would have been achieved without these measures. A Greener Horizon for Wysoka OX2's Wysoka wind farm isn't just about producing renewable energy; it's about fostering a brighter, more sustainable future for both energy and ecology. By integrating carbon sequestration practices into its operations, we hope to set a precedent for the symbiotic relationship between renewable energy and environmental stewardship. The winds of change are truly sweeping through Wysoka, and OX2 is at the forefront, ensuring that each gust brings with it a promise of cleaner skies, healthier ecosystems, and a planet that thrives on smart human innovations and the harnessing of the natural systems already helping reduce our carbon footprints. Read more here: https://www.ox2.com/projects/wysoka
Ingmar Rentzhog
35 w
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OX2 is paving the way for a brighter future by pledging to create nature-positive solar and wind farms by #2030. This commitment goes beyond mere mitigation, aiming to enhance biodiversity. Renewable energy, in OX2’s vision, is in harmony with nature. By championing both climate action and biodiversity, OX2 strives to rejuvenate natural ecosystems and fast-track the adoption of renewable energy. Read about OX2's excellent work here: https://lnkd.in/dUHrPQKP
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OX2
37 w
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As part of our hybrid approach to both renewable energy production and biodiversity protection, OX2 has undertaken a groundbreaking Wetland Restoration Project in Klevberget, Ånge municipality. The goal is to reintroduce the freshwater pearl mussel to the Alderängesån river, bolstering biodiversity and ensuring the long-term health of the local ecosystem. The Decline of Freshwater Pearl Mussels Biodiversity, the vast variety of life on Earth, is vital for maintaining ecological balance and resilience. It is a key component of a sustainable environment and plays a crucial role in mitigating the impacts of climate change. Diverse ecosystems are more adaptable to disturbances, making them better equipped to recover from environmental challenges. Mussels in particular are known for their vital importance to water systems, as a “vibrant FPM population maintains good water quality by filtering and purifying water”. These have knock-on effects for other wildlife and plant life in the same habitat, as the improved water quality leads protects plant species that provide habitat for other animals, make the water safer and more tolerable to fish species, and filter water that makes its way back to the sea. Unfortunately, however, its population and distribution have experienced sharp declines, earning it the status of a threatened species. Despite having 600 known spawning locations in Sweden, the species is threatened by ever-decreasing water quality. The freshwater pearl mussel has a “widespread but fragmented and declining distribution across Europe. In Sweden, the mussel has disappeared from around 40% of the rivers and streams in which it was found 100 years ago.” The presence of freshwater pearl mussels is indicative of good water quality and a diverse aquatic ecosystem. By focusing on reintroducing this endangered species, OX2 aims to improve the overall health of the Alderängesån river and contribute to the preservation of aquatic biodiversity. Restoration Efforts in Klevberget The Wetland Restoration Project in Klevberget is a joint effort between OX2, Sportfiskarna, the Swedish Environmental Protection Agency, and SCA. The project's goals are ambitious and clear, focusing on specific measures to achieve its objectives: - Re-establishing Freshwater Pearl Mussels: Through carefully planned habitat measures, OX2 aims to facilitate the re-establishment of freshwater pearl mussels in the Alderängesån river. - Improving the River Habitat: Restoration efforts will focus on enhancing the river's habitat by restoring areas that have been previously cleared, thus providing a conducive environment for the freshwater pearl mussel and other aquatic organisms. - Monitoring and Evaluation: The project involves comprehensive monitoring, counting the number of freshwater pearl mussels before and after the restoration measures are implemented. The increase in the number of trout and deadwood, benefiting species like the redlisted scapania liverwort, will also be assessed. - Expanding Wetland Area: Biotope management efforts aim to increase the wetland area, creating a thriving ecosystem that benefits a wide range of flora and fauna. LONA Funding and Community Engagement The Local Nature Conservation Programme (LONA), initiated by the Swedish government, plays a crucial role in supporting projects like OX2's Wetland Restoration in Klevberget. By involving local actors and encouraging community engagement in conservation efforts, LONA fulfills international agreements like the Convention of Biological Diversity and ICLEI – Local Governments for Sustainability. OX2's partnership with Sportfiskarna, SCA, and other stakeholders underscores the significance of cooperation in achieving meaningful biodiversity restoration. Conclusion OX2's Wetland Restoration Project in Klevberget stands as an exemplary initiative in biodiversity protection and environmental sustainability. By reintroducing the freshwater pearl mussel and investing in habitat restoration, OX2 is paving the way for a healthier ecosystem in the Alderängesån river. We’re hoping that the incumbent knock-on effects of efforts like these not only make it easier for the wildlife in the areas we work in to thrive, but also provide more far-reaching benefits to the planet and its resilience.
Fawzya Alshami
37 w
Among the Arab countries that could be significantly affected by climate change are: 1. Yemen: Experiencing water scarcity, deteriorating agricultural conditions, and increasing drought severity. 2. Egypt: Facing issues due to rising sea levels and changes in rainfall patterns. 3. Jordan: Confronting challenges in water resource management and rising temperatures. 4.Palestine is also among the countries that could be significantly affected by climate change. The issue of climate change impacts many countries around the world in different ways, and various regions in the Middle East may face new challenges due to climate change. Potential impacts in Palestine may include increased drought and water scarcity, changes in agriculture and the environment, and rising sea levels affecting coastal areas. 5.Tunisia: Dealing with negative impacts on agriculture, water resources, and coastal areas. 6. Algeria: Being affected by declining water resources and changes in precipitation patterns. 7. Morocco: Suffering from increasing drought and declining water sources. Please note that the list of countries affected by climate change is not exhaustive, and there are many other countries and regions facing new challenges and changes due to climate change. Remember that climate change affects different regions in various ways, and this list may not cover all countries exposed to environmental impacts.
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OX2
40 w
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As part of our commitment to reverse biodiversity loss, restore nature, and contribute to nature recovery, OX2 is embarking on an extraordinary venture together with Kobb and Nordic Sea Farm that holds great promise for the future of our oceans - featuring a familiar aquatic plant. With a focus on large-scale seaweed farming, the partnership aims to revolutionize sustainable food production, promote marine health, and create a multitude of valuable products derived from this one innocuous, underwater crop. OX2 targeting nature-positive windfarms – on and off shore The world has lost 69% of wildlife populations the last 50 years and biodiversity loss continues at an alarming rate. Climate change is one of the main drivers of biodiversity loss, which is why renewable energy production is key to address not only the climate and the nature crisis. “We believe that renewable energy should not come at the expense of nature, and this goes for nature both above and below the surface“, says Rebecca Karlsson, Head of Sustainability at OX2. OX2 has set the target to develop nature-positive solar and wind farms by 2030. The mitigation hierarchy is applied to meet this target, meaning that we aim to avoid, minimize, restore, and compensate for the negative impact that comes from the construction and operation of our projects, but also to give back to nature. Seaweed farming benefiting nature and creating jobs At the Galene offshore wind farm being planned approximately 25 kilometers off the coast of Falkenberg and Varberg, OX2 is looking into what measures would benefit the local environment and communities. “In addition to generating electricity, we want to look at how we can coexist with new and existing industries. We also want to create conditions for aquaculture, contribute to a better marine environment and in the long run create more jobs”, says Emelie Zakrisson, Head of Offshore Wind Development Sweden. Seaweed - a natural ocean protector Alongside this renewable energy project delivering an approximated capacity of 400 MW, OX2 has partnered with industry leaders Kobb and Nordic Sea Farm to explore the potential for cultivating seaweed on a grand scale. This collaboration highlights the tremendous opportunity for utilizing the natural resources available in harmony with clean energy generation. Seaweed farming has extensive environmental benefits that make it a powerful tool in the quest for a healthier ocean. As these aquatic plants grow, they draw nutrients and capture carbon dioxide from the water, promoting improved water quality and combating eutrophication. Furthermore, seaweed has the unique ability to capture nitrogen and phosphorus, which are known contributors to water pollution. By reducing the levels of these harmful substances, seaweed helps restore the balance of marine ecosystems. Seaweed’s utility beyond the ocean But the advantages of seaweed farming extend beyond its ecological impact. Sugar kelp, one of the primary species cultivated, offers a wealth of nutritional value. Rich in minerals, fiber, vitamins, and antioxidants, sugar kelp serves as a natural source of iodine, magnesium, and iron. Its culinary versatility is equally impressive, as it can be boiled, fried, fermented, or used as a flavoring in various forms after drying. The potential applications of seaweed are far-reaching, ranging from meat substitutes to biofuel, fertilizer, pharmaceuticals, packaging, and hygiene products. This ground-breaking project also carries significant economic benefits for the local community. Large-scale seaweed farming requires a skilled workforce to undertake critical tasks such as sowing, harvesting, and inspection. Aligning with our dual approach to sustainability Seaweed farming not only aligns with OX2's approach to sustainability but also underscores the urgent need to protect our oceans and restore their vitality. By harnessing the power of nature, this innovative approach paves the way for a greener, healthier future. OX2's dedication to large-scale seaweed cultivation sets a precedent for other companies to follow, demonstrating that sustainable practices can be both environmentally beneficial and economically viable. Together, we can make a significant difference in preserving our planet's most precious resources for generations to come. Read more about our approach to sustainability below! https://www.ox2.com/sustainability/what-we-do/our-sustainability-approach/
OX2
44 w
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OX2, a prominent player in the renewable energy industry, is making significant strides towards a sustainable future, which we define as the desired state within the planetary and social boundaries. Adhering to science, OX2’s approach to sustainability encompasses a dual approach to climate and contribution. As we outline in our own reports, climate change and biodiversity loss are interconnected global crises that need to be addressed jointly. The 1.5°C ambition: The world is at a critical tipping point. Global greenhouse gas emissions need to decrease rapidly to limit climate change to 1.5°C, as encompassed by the Paris Agreement. We need to shift from a fossil fueled society to one that runs on clean energy. By accelerating access to renewable energy, OX2 enables the sustainable electrification of societies – and everything that comes with it. The intergovernmental panel on climate change states that the expansion of renewable energy is key to mitigate climate change. However, developing renewable energy is not without a climate footprint. OX2’s approach to climate action is therefore to increase renewable energy production and reduce greenhouse gas emissions in line with the 1.5°C ambition. “Our climate action is simple: increasing the climate handprint, the positive impact from replacing fossil energy with renewable energy, and reducing the climate footprint, the greenhouse gas emissions stemming from the construction of renewable energy projects and our business operations,” says Linda Strindevall, OX2's Environment and Climate Change Manager. OX2’s science-based targets: Science Based Targets initiative drives ambitious climate action in the private sector by enabling organizations to set greenhouse gas emission reduction targets in line with science. They do this by informing organizations how much and how quickly they need to reduce their greenhouse gas emissions in line with the Paris Agreement and the 1.5°C ambition. OX2 have set science-based targets (SBTs) as part of an ongoing dedication to combating climate change from their business operations. Through this, OX2 joins customers, suppliers, and peers in the SBTi’s movement of corporate climate action. “The true strength of our SBTs is not because they are unique, but because they are part of a collective cross-industry shift to low-carbon economy,” says Rebecka Karlsson, OX2’s Head of Sustainability. OX2 plans to meet its set science-based targets by decarbonizing their vehicle fleet, choosing renewable energy for their offices, and working together with suppliers and customers to reduce the climate impact from their renewable energy projects. After all, it’s not just in the interest of the planet, but in the interest of the average individual and their reliance on reliable, steady, and clean energy. Biodiversity is key to address climate change: Climate change is one of the main drivers of biodiversity loss, and biodiversity loss exacerbates further climate change. Addressing these two global crises jointly is not only effective – but a must. Biodiversity - the variety of plant and animal life – is fundamental for life on Earth and an essential part of our economy. The food we eat, the medicine we take, and the material we use in products all rely on biodiversity. “Renewable energy should not come at the expense of nature, which is why we have set the target to develop nature-positive solar and wind farms by 2030,” says Paul Stormoen, OX2’s CEO. To achieve this vision, OX2 is exploring innovative strategies such as seabed oxygenation, wetland restoration and the establishment of mussels in a local creek. By implementing these practices, OX2 aims to enhance ecosystems and promote biodiversity while generating clean energy. OX2’s biodiversity strategy: OX2 has established three goal areas for biodiversity which are key to achieve the long-term goal of nature-positive wind and solar farms. First, the company will employ the mitigation hierarchy as a guiding principle in all new renewable energy projects. This approach ensures that biodiversity considerations are prioritized throughout the project phases. Secondly, OX2 is dedicated to delivering credibility and transparency in its biodiversity efforts. The company is monitoring appropriate methods and frameworks to measure and report on their biodiversity work, as well as increasing knowledge and skills regarding biodiversity throughout the organization. The third and final goal is to ensure a nature-positive climate transition by actively engaging with scientists, landowners, industry and trade organizations, and other external stakeholders to deepen the understanding of the intricate relationship between renewable energy and biodiversity. By working together, they can implement measures that effectively protect and enhance natural ecosystems whilst increasing access to renewable energy.
OX2
48 w
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It is said that change happens first gradually, then suddenly. In 2022, 85 percent of all new electricity production in the world was renewable, and the International Energy Agency (IEA) predicts that renewables will be the largest source of electricity production in the world before 2025. We are still just at the beginning, but there is no doubt that the energy transition has taken off. Watch this film for more signs that the great shift is happening now. https://www.youtube.com/watch?v=Gbc2QLD22S8
OX2
53 w
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This week is Stockholm Climate Week, organized by We Don't Have Time. We are hosting a session on Wednesday April 19, 1:15-3:15pm CET, with focus on the Baltic Sea. You can follow it online, free of charge: https://lnkd.in/dqu2Aj2J A highly competent panel, representing different interests in the region, will discuss the development of renewable energy in the Baltic Sea and how it can contribute to regional security, the shipping industry, and biodiversity. Watch the film below for a brief introduction. https://www.youtube.com/watch?v=H_vj5TFSD-M
Truly there is an urgent need to change our habits and energy use, as society increasingly moves away from high-carbon energy sources – the demand for alternative sources increases. Wind and solar farms are critical for this shift. OX2 develops and sells wind and solar farms and is Europe’s leading developer of large-scale onshore wind power. Over the past 17 years, OX2 has realized more than 3.2 GW of wind power from large-scale onshore wind farms in the Nordic region. By constantly increasing access to renewable energy, OX2 is enabling the transition toward a more sustainable future. They currently have operations in the Nordics, Poland, France, Lithuania, Spain, Italy, Romania, and Greece with headquarters in Stockholm, Sweden. read more: https://www.youtube.com/watch?v=womJ1FXbgq0
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OX2
58 w
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We are on the cusp of a shift and it all starts with the energy we use. The world is transitioning towards an electrification of society, but to get there, and to fulfill our climate targets, it is vital that the share of renewable energy in the global energy mix is dramatically increased. That’s why OX2’s mission is to accelerate access to renewable energy. We have been a part of We Don’t Have Time for a while, but we’ve never properly introduced ourselves. Let us explain who we are and what we do to power this great shift. https://www.youtube.com/watch?v=womJ1FXbgq0 OX2 is a fully integrated provider of renewable energy. This means that we house specialists from the whole value chain and can support renewable energy projects with everything from project acquisition and financing to construction, engineering, and long-term asset management. As a leading provider of onshore wind power, with a growing portfolio of solar, offshore wind, and energy storage, we see our responsibility in driving the energy transition forward faster. We are currently present in 11 markets across Europe. We weren’t always in this position, though. It all started almost 20 years ago, in 2004, when we began our journey as an independent developer of onshore wind power in Sweden. As renewable energy became more widely available, the prices dropped and we started expanding our business into other markets, as well as into other technologies. Today, renewable energy like solar and wind is the fastest and most cost-efficient way to generate electricity, and we are on a mission to accelerate the transition to fulfill the Paris agreement. Wind and solar energy still only account for 10 percent of the global energy mix, so a lot needs to be done by both businesses and politicians to future-proof our energy systems. On this profile, we will share our work and projects for accelerating access to renewable energy. We will talk about our projects as well as third-party projects that we support, and we will also share our insights into what needs to be done to make sure that we scale up renewable energy fast enough. To build on this, we are hosting a main session on scaling up renewable energy during Stockholm Climate Week in April. We hope you will follow along, watch our broadcast, read our articles, and share your thoughts with us and your network. Together we can help make renewable energy the dominating source of energy by 2030.
OX2
59 w
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It all starts with the energy we use - in this video we have collected some interesting facts about renewable energy. The video was produced for OX2's Capital Markets Day in February 2023. https://www.youtube.com/watch?v=womJ1FXbgq0
OX2
85 w
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Favorable winds are blowing for renewable energy. The cost of wind and solar power continues to decrease rapidly, and demand is soaring. But there are also some major challenges ahead. At OX 2, we want to play a major role in accelerating the shift to renewables. During the STHLM+50 Climate Hub in early June, four of our representatives took the stage and talked about our company’s mission to accelerate access to renewable energy. Nowadays, wind and solar are at the center of attention for governments, companies, investors and consumers all over the world. But as Paul Stormoen, CEO of OX2, pointed out during his presentation, that wasn’t always the case. ”When I started at OX2 about 14 years ago, renewable energy was still a marginal source of electricity production. I remember going to conferences, we were always placed in the basement. Oil and gas were in the main hall. That really started to shift four-five years ago, when we could start constructing our first wind farms without the need for government subsidies. That made a huge difference.” Over the past ten years, the cost for wind power production has decreased roughly 70 percent. For solar power 80 percent. ”The cost has come down so much that even in the Nordics it now makes sense to build large-scale solar farms right now”, said Paul Stormoen. Looking forward, these costs are projected to drop even more in the coming years. LCOE (Levelized Cost Of Energy) is expected to drop by 35-40 percent for solar by 2030, and by 20-30 percent for wind. ”This has made a huge change. We now see major industrial companies investing in renewable energy, both for profit and for securing their supply of emission-free electricity.” As the IPCC report from April pointed out, renewable energy is the fastest and most efficient way to fight climate change. OX2 is already the leading company in Europe in terms of volume, and we are now dedicated to being a leader in accelerating access to renewable energy. We are currently covering 11 countries in Europe, and we have so far delivered above our targets for 2022. ”The opportunities are fantastic. The market is following us, and we are announcing constructions every quarter. This is extremely motivating, to both be delivering shareholder value and also having the opportunity to stand in front of my daughters and saying that we are doing something that will be supporting their generation”, said Paul Stormoen. But although renewable energy is cheap and clean, the wind doesn’t always blow, and the sun doesn’t always shine. During his presentation, Peter Tornberg, our Head of development & acquisition, talked about how OX2 also works with hydrogen and other forms of storage solutions to balance the grid. However, this won't be enough. Because of the fluctuation in energy output, the whole energy system needs to be reconstructed. ”It is a big shift, and a very big task that we have ahead of us”, said Peter Tornberg. Rebecca Karlsson, Head of Sustainability, at OX2 ended the segment by talking about OX2’s ”People, Planet, Profit” way of conducting sustainable business. ”We want to involve, and show respect for, the people who live and work around our solar and wind farms, and we also have the ambition to provide local jobs when possible.” In Poland, for instance, OX2 and the Windhunter Academy have set up a training facility for former miners, to help them transition to the renewable sector. Another long-term target is biodiversity. ”We have long worked to minimize the negative impacts that a wind farm might actually have, and we strive to become climate positive company by 2030”, she said. Watch the whole segment here: https://youtu.be/BP2Pol9Vnhs?t=346
Markus Lutteman
94 w
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Stockholm-based wind farm and solar developer OX2 has applied for a permit to build a massive 5.5 gigawatt (GW) offshore wind farm in the Baltic Sea. If approved, it will be the largest single offshore wind farm in the world. The wind farm, which will be called Aurora, will comprise of up to 370 wind turbines, with a maximum height of 370 meter. The total installed capacity is estimated to 5500 MW. OX2 has previously applied for a Natura 2000-permit for the Aurora wind farm. The electricity production from the planned wind farm will be about 24 TWh per year, which corresponds to the electricity consumption of about 5 million households or about 17 percent of the total electricity consumption in Sweden. Aurora will be sited in the Swedish Economic Zone, about 20 kilometers (12.4 miles) from the island of Gotland and 30 kilometers from the Island of Öland. ”This is the next step to realize the Aurora wind farm. Together with our other planned offshore wind farms it constitutes a significant part of the electricity production Sweden needs, to reach the climate targets and to secure the production and energy independence of Sweden”, says Hillevi Priscar, country manager, OX2 Sweden in a statement of the company web site. Red more: https://corporate.ox2.com/financial-reports/ox2-applies-for-a-permit-to-construct-the-offshore-wind-farm-aurora-under-the-act-of-swedens-exclusive-economic-zone
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