EY M&A advisor to OX2 on the divestment of a 27MW wind farm in Italy

OX2, a leading European renewables developer, has signed a contract to sell an onshore wind farm in Italy to Glennmont Partners.

The onshore wind farm, with a capacity of 27 MW, is the first project OX2 divests in Italy.

The transaction is structured as a forward COD sale whereby OX2 will remain the owner of the project during the construction phase and the project will be handed over to Glennmont Partners at the start of operation. Construction is estimated to start in August 2023 and is scheduled to be completed by September 2024. Once commissioned, OX2 will be responsible for the technical and commercial management of the project under a 5-year agreement, optimizing the production and supervising its operations.

EY Corporate Finance acted as the exclusive M&A advisor for OX2 in the transaction and ran a highly competitive international auction process. In addition, EY Corporate Finance supported OX2 with Debt Advisory services and the procurement of a Corporate PPA. The transaction highlights EY’s capabilities in providing first class integrated corporate finance and other transaction advisory services in highly competitive transactions with a cross-border team. 

More information can be found on OX2's press release.

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