“OX2 has been shaping the PPA market since 2013”

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• "OX2 has been shaping the PPA market since 2013"

Lars Haavik joined OX2 as Head of PPA in August 2025.

Welcome Lars! Tell us about your professional background and what PPA origination means.

I've worked in origination for 14 years, including roles at Aquila Capital and Vattenfall. In essence, origination is about connecting large-scale electricity consumers with producers. The role is similar across companies, but the setup can differ. At Vattenfall, for example, we bought electricity from one party and sold it to another, while at Aquila Capital, and now at OX2, the focus is on connecting buyers directly with our own projects.

Trust is central in this business. PPAs are complex and costly, so customers need confidence that we understand their needs and deliver on our commitments. OX2 already has a strong track record in delivering projects on time and with quality. Now, as we hold on to our projects and sell the electricity ourselves, we're taking an important step forward. It's a big change, but also an exciting opportunity.

What attracted you to join OX2 as Head of PPA, and what are your first impressions?

What attracted me was OX2's growth journey and the transition the company is going through. It's a chance to build something new while working with a trusted developer that has a strong reputation. The move from selling projects to owning them is both challenging and exciting, and I believe OX2 is well prepared for it.

After six weeks here, my impression is that things are always moving forward. There's a flexibility and pace that I really value. On top of that, I get the opportunity to build and shape a new team, which I'm very excited about. Having spent six years being part of building at Aquila capital's Energy Market team in my last role, I bring experience in what works - and what doesn't.

What do you see as OX2's strengths in the PPA space?

OX2 has been shaping the PPA market since 2013, when we arranged Europe's very first corporate PPA with Google. Over the years, many of the world's leading companies have trusted us to secure long-term renewable energy supply across geographies and technologies, thanks to our proven track record, international reach and financial strength. Our role is not just to provide stable, long-term contracts, but to be a partner who supports and guides them on their journey to cleaner, more sustainable energy.

How will you and the team build strong, long-term partnerships with our PPA customers?

Visibility and trust are key. Customers need to know us and know we deliver on time and on our promises. OX2 has a long track record of doing exactly that. For new customers, our 20+ years of experience is impressive, and our presence across Europe and Australia allows us to engage both locally and globally. Every market is different, with different drivers, from industrial companies with baseload needs to corporates aiming for climate targets, and our strength is adapting to those needs.

How do you hope our PPA business will contribute to the growth of OX2 and to the global energy transition?

PPAs are critical to OX2's growth. Without them we can't finance and own projects, so the pressure is high. But that makes it exciting, it's game on.

On a broader level, what we do is part of the global energy transition and that is important to me. Change can sometimes feel inconvenient in the short term, like sorting waste into multiple bins, but the real impact is long-term. My hope is that when people look back a hundred years from now, they'll be able to say: "In the 2020s, there were those who took responsibility".