OX2 sells two Australia solar projects European Energy

Their capacity can provide energy to 54,000 Aussie homes.

Renewable energy company OX2 has sold two Australian solar projects with a total capacity of 137 megawatt-peak (MWp) to European Energy.

In a statement, the company said the sale includes project rights for 106-MWp Lancaster solar farm located in Victoria and 31-MWp Mulwala solar farm in New South Wales. Both are expected to become operational in 2026.

When operational, the solar farms will produce about 255 gigawatt-hours of electricity annually, enough to power around 54,000 Australian homes.

OX2 said the transaction will be recorded in the third quarter 2024 and will have a limited impact on its accounts.

Following this transaction, OX2’s development portfolio in Australia includes projects totaling 1,185 megawatts.