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Allianz agrees to acquire OX2 wind farm in northern Sweden

As part of the deal, Google has signed a power purchase agreement to buy the electricity output of the wind farm for the next ten years.

Allianz, a global insurance company, has signed agreements to acquire an additional 33 MW of nameplate capacity at Maevaara wind farm in Northern Sweden from the Nordic renewable energy developer, OX2. At the same time, Google has signed a power purchase agreement to buy the entire electricity output of the wind farm for the next ten years, to power its data center at Hamina, Finland.

The first 24 wind turbines are currently being commissioned; the other ten turbines are expected to come on line in 2016. OX2 will manage the 105 MW wind farm commercially and technically.  Google will purchase the power when the new windfarm becomes operational in 2016.

We are delighted to receive this renewed expression of confidence in us, and we look forward to deliver another high quality wind farm,” said Paul Stormoen, CEO of OX2 Wind.

This latest deal is the second such agreement signed by Allianz, Google and OX2. In 2013, Allianz Capital Partners, the Allianz Group's in-house investment manager for alternative investments, and OX2 signed a purchase agreement for 24 wind turbines at Maevaara, located in Övertorneå and Pajala municipalities in northen Sweden. In that deal, Google agreed to purchase the entire output for ten years, starting in 2015. 

“We’re keen to keep increasing the amount of renewable energy we use,” said Francois Sterin, director, global infrastructure at Google. “This long term agreement – our fourth in Europe, and second with Allianz and OX2 – helps us remain a carbon neutral company, whilst also adding new wind generation capacity to the European grid.”

David Jones, head of renewable energy at Allianz Capital Partners, said the company is very pleased to be extending the Maevaara wind farm in co-operation with both OX2 and Google, and that it looks forward to working with them throughout the project’s construction and long-term operation phases.  

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Energy efficiency  •  Energy infrastructure  •  Policy, investment and markets  •  Wind power