Nordic developer OX2 is expanding into Greece by acquiring two solar and onshore wind portfolios with a combined capacity of more than 500MW.

The portfolios contain projects in different stages of development and across various regions of the southern European country, the company said, adding it will develop the projects with local co-development partners with a track record of more than 4GW of authorized projects in the country.

“Greece is a very interesting market for OX2. About 20% of the electricity consumed in Greece is imported and 15TWh of lignite will be replaced by 2028,” OX2 chief executive Paul Stormoen said.