OX2’s gigascale Swedish offshore wind projects with the investment arm of Ikea owner Ingka Group have a different “cost and revenue base” compared to US projects that were recently cancelled, and are “attractive” from a market perspective, the Nordic developer’s CEO told Recharge.

OX2 earlier Tuesday has announced that Ingka Investment had agreed to buy a 49% stake in two more large Baltic Sea wind projects in Sweden from OX2.