Two years ago, we announced our first ECOHZ GO2 transaction. In today’s fast-moving, impatient, sometimes frantic, society two years may seem like a long time. Not so when establishing new energy infrastructure. And that is what our customers do when they engage with ECOHZ GO2.
So, what has happened? Since then, ECOHZ has arranged three GO2 contracts with three commercial and industrial (C&I) companies, meaning three new power plant projects have secured financing.
The cooperation between our customers and ECOHZ, stemming from a common commitment to the energy transition, is producing very concrete results: these projects are now being built and will soon add their production to the European grid.
Thanks to the GO2 model, our customers see their idea of increased engagement evolve super-efficiently and remarkably fast to a new power plant project becoming a reality.
Tågeröd wind farm will deliver renewable energy to grid in August
The first project to be completed thanks to GO2 funding is the Tågeröd Wind Power Plant in western Sweden, near the village of Tanumshede. ECOHZ customer H&M (Hennes & Mauritz) has bought ECOHZ GO2 products over two years and thus contributed the critical top-financing allowing project developer Waros to buckle the project financing.
Tågeröd is in an area designated as efficient and well suited for wind power production. Hilly and surrounded by forest the environmental nuisance is minimal, respecting the beautiful nature and leaving the nearby coast unaffected. At present the construction work is well on its way and the technical equipment has already been transported on-site. Four wind turbines will go up and be connected to the grid in August, leaving time for the local Black Grouse to engage undisturbed in their mating game during the month of April and May.
GO2 is a new and highly innovative product rendering corporate engagement in new renewables accessible to more commercial and industrial companies. At the same time, roll-out of any innovation involves a learning curve and power plant projects are complex undertakings. We are thrilled to have learned a lot about power projects these past years and to know that we are better placed today to secure good new projects and accompany our customers as renewable energy transformers.
Stay tuned for more information and visuals on the completion of Tågeröd. We will also be back later this year with more information on new GO2 projects as well as the story of Sandvik Hydro Power Plant, located in a fjord in western Norway, the next GO2 project to go on-line thanks to the support of a Dutch high-tech company.