- The plants are part of the Energy I Fund of EOS Investment Management, dedicated to renewable energy infrastructures
- The plants sold generates more than 20 GWh per year and allows to achieve savings of over 13 thousand tons of CO₂, compared to energy produced from fossil sources
London, 12th November 2020 – EOS Investment Management (EOS IM), an international asset manager leader in alternative investments, through its first energy fund, which is dedicated to renewable energy and infrastructure, has signed an agreement with Obton, a Danish company leader in investments in sustainable technologies and the largest investor in solar farms in Northern Europe, for the sale of a 17 MW portfolio which includes 23 photovoltaic plants in Italy.
The plants sold, which are located in several Italian Regions and came into operation between 2011 and 2014, generate over 20 GWh per year, able to meet the annual energy needs of 8,000 households, making it possible to achieve savings, compared to energy produced from fossil sources, of over 13 thousand tons of CO₂.
Energy Fund I is the first renewable energy infrastructure fund launched by EOS IM with a portfolio of photovoltaic and wind plants acquired between 2014 and 2018 with a total capacity of 65MW in addition to a significant energy efficiency project.
EOS Energy Fund I was subscribed by primary institutional investors and family offices along with EOS IM’s management. In concomitance with the first sale of the Energy Fund I, EOS IM has launched the second generation of his infrastructure funds dedicated to the development of renewable energy projects in the absence of public incentives.
“We are proud to have successfully completed the first sale of the Energy Fund I to a leading international player, confirming our consolidated positioning on the European market”, commented Natalino Mongillo,
Co- Founding Partner of EOS IM. “We are pleased to share this important transaction with Obton, with whom we have in common the role of investors focused on sustainability topics and active players in the energy
transition in Europe”.
“We are very happy about the successful completion of this transaction and we hope we will find a way to collaborate in the future with EOS IM team on other possible deals as we had a very good a pragmatic dialogue to secure a quick transaction to the benefits of both parties”, commented Andreas Ditlev Duckert, CFO of Obton. “We see this portfolio as a very good continuation of our strategic move into more Italian solar assets, which would drive up our scale in the Italian market, so we can run our portfolio even more effectively, and also make us more competitive for acquisitions of future portfolios”.
EOS IM was assisted by Grimaldi Studio Legale as legal advisor, by Ernst & Young as financial and tax advisor, and by EOS Consulting as technical advisor.
Obton was assisted by Orrick as legal advisor, Torresi e Associati as tax advisor and by Protos as technical advisor.
The law firm Orrick, represented by partner Carlo Montella at the head of the Energy & Infrastructure team, acted also as transaction advisor of the whole acquisition.
EOS Investment Management Group
EOS Investment Management Group (EOS IM Group) is an international, independent, multi- strategy group based in London, with offices also in Luxembourg and Milan. EOS IM Group manages alternative investment funds focussed on the real economy and sustainability and reserved to qualified and institutional investors. EOS Investment Management Ltd is a fund manager under the AIFM European Directive, authorized and regulated by the Financial Conduct Authority – UK. EOS IM Group operates on a European level, in the Private Equity and Renewables & Infrastructure sectors.
Obton is an investment and development group with the goal of building a broad and risk-diverse portfolio of assets in the field of renewable energy, which is in the PV market for more than 10 years and thereby established expertise and a strong track-record within development, funding and management of solar PV projects.
Obton was founded 2008. Obton has grown into a large player in the European PV market with a portfolio worth € 1.8 billion and ranks the 9th largest player in European PV industry (Source: Solarplaza report June 2020).