We have acted as the lender's technical adviser for OX2 to successfully secure project financing for Fageråsen Wind Farm in Malung-Sälen,Sweden — a major milestone for the 189 MW onshore renewable energy project. It also marks the first Swedish project OX2 will own and operate.
OX2 has secured long-term project financing from DNB Carnegie and UniCredit, and the 27‑turbine Fageråsen Wind Farm - already under construction - is expected to begin operation in the first half of 2028. Plans also include a 200 MWh battery energy storage system (BESS) to enhance the site’s overall power output.
Dr Joseph Gibbons, Advisory and Analytics Lead for Natural Power Ireland, said: “We’re delighted to be working with OX2 again as it advances project development in the Nordic region. By delivering full technical due diligence, we’ve helped guide lenders through the project’s technical, environmental and commercial complexities, enabling this critical investment decision. The Fageråsen Wind Farm represents a significant investment in Sweden’s renewable energy infrastructure, and we are immensely proud to have undertaken the advisory services.”
Joseph added: “Onshore wind – together with the rapidly growing BESS sector - is playing an essential role in global decarbonisation. We’re delighted to support lenders and developers in ensuring projects like Fageråsen are technically robust and commercially viable, helping accelerate the deployment of renewable energy infrastructure.”
Our role encompassed a detailed review and validation across all key technical areas to support financing decisions, including:
- Full technical due diligence across key technical contracts, design and equipment specifications
- Grid connection and permitting evaluations
- Energy yield analysis and performance forecasting
- Stakeholder review and commercial risk assessment
- Liaison on financial model assumptions to ensure alignment with project performance expectations
Our involvement with the Fageråsen Wind Farm builds on our longstanding expertise in technical advisory services for renewable energy projects worldwide, supporting sustainable investment and development across wind, solar and storage technologies.
Find out more about advisory services here: Renewable Energy Project Due Diligence | Natural Power