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Onex acquires 221MW wind portfolio in Portugal from EDP Renewables in a €540mn EV transaction.

The project was a high profile transaction with a host of advisors including JP Morgan, Santander Bank, Allen & Overy, Baker Mckenzie, Cuatracasas, Linklaters, KPMG and more.

Onex Group has finalised the closing of a 221MW Portuguese wind portfolio transaction.

Previously owned by EDP Renewables, the portfolio consists of five wind farms and comes with an 18-year power purchase agreement.

Onex appointed Exus Management Partners to deliver expert support and strategic advice in the sourcing, structuring and execution of the deal, including the syndication process and financing provided by Banco Santander.

Exus will oversee the asset management and performance monitoring services for the portfolio.

All five wind farms are in operation, with the portfolio having an estimated enterprise value of more than €500m.

Exus co-founder Carlos Tello Garcia said: “We greatly value our relationship and long-term plans with Onex. The advisory, support and structuring of this deal, alongside the subsequent asset management programme, is only the beginning.

“The sector has infinite opportunity, but the challenges can be complex.

“We look forward to supporting Onex as they advance their ambitions in the global transition to clean energy.”


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