NEWS

EMEREN AND OX2 SIGN JOINT DEVELOPMENT AGREEMENT FOR 200 MW OF SOLAR ENERGY PROJECTS IN ITALY

London, December 21, 2021 – OX2 (NASDAQ FIRST NORTH: OX2), an integrated renewable energy developer with a leading position in large-scale onshore wind power in Europe, and Emeren, a London-based solar photovoltaic project development platform specialized in the development of photovoltaic energy power plants, have entered into a joint co-development agreement for three projects for a total solar power capacity of 200 MW in Molise and Sicily, two of the regions with the highest solar power irradiation.

Through the acquisition of the portfolio in Italy, OX2 is leveraging on Emeren’s extensive knowledge of the national authorization procedures, which involves authorities and local communities. The power plants will be ground-mounted on agricultural land, and they will deploy a new cutting-edge agrivoltaic approach.

About OX2

OX2 develops and sells wind and solar farms. OX2 has taken a leading position in large-scale onshore wind power over the past 16 years and has developed and sold approximately 2.5 GW in Sweden, Finland, Poland, and Norway for clients such as Allianz, Ardian and IKEA. Between 2014 and 2020, OX2 realised more onshore wind power in Europe than any other developer. By constantly increasing access to renewable energy, OX2 is promoting the transition towards a more sustainable future. OX2 has operations in Sweden, Finland, Poland, France, Lithuania, Norway, Spain, Italy, and Romania with its headquarters in Stockholm, Sweden. Sales in 2020 was SEK 5,201 million with an EBIT of SEK 416 million. The OX2 share is listed on Nasdaq First North Premier Growth Market. For more information, please visit: www.ox2.com

About Emeren

Emeren is a developer of utility-scale solar power and battery storage projects, headquartered in London City and with a geographically diversified pipeline in various stages of development. Currently, the Company has over 1GW of projects under development (mid- to early- stage), all backed by institutional investors’ capital. Emeren leverages on trusted partnerships with tier-1 international financial and industrial players to deploy top-notch financial solutions. For additional information about the Company, visit: www.emeren.co.uk

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