maxthedog That's the MCOMBU type HVAC unit (Volvo-speak for 'pre-equipped for air conditioning'). MCOMBU units were fitted to all OZ-market cars, AFAIK, and aircon was either fitted in the factory, or retrofitted as a dealer-fitted accessory.
You'll need to add an evaporator to the HVAC unit, a condenser in front of the radiator, a compressor, and all the other hardware.
The 91+ 240s used a bigger plate-&-fin evaporator and a CCOT type system; this initially was R12, then R234a in the last of the 240s. The big plate-&-fin evaporator is LHD and RHD specific - RHD ones are rare. You can get the LHD ones from Rock Auto, but you'll need to modify the pipes on the evaporator so the high and low side pipes come out on the passenger side of the HVAC unit nicely and correctly.
I've test fit a LHD plate & fin evap in a pre-91 HVAC box, and confirmed it will fit.... but the pipes are the issue.
The Sanden compressor which James was alluding to is the Sanden SD7 model 4664, which ended up being standard fitment to Volvos once they dumped the old York units. Which means mounting brackets for B21 / B230 engines aren't hard to find. The 4664 is used in a lot of other vehicles, so shopping around means you don't get charged triple the price because 'Volvo part'. Just be wary of getting one with a 24V solenoid, as they use 'em on trucks too.