Onex Renewables Closes Acquisition of 221MW Portuguese Wind Portfolio 

Onex Renewables (Onex), the low-carbon subsidiary of privately led infrastructure investment group Onex Holding, has confirmed the closing of a 221MW Portuguese wind portfolio transaction.
Onex Renewables Closes Acquisition of 221MW Portuguese Wind Portfolio 

Onex appointed Exus Management Partners (Exus) 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.

Previously owned by EDP Renewables, the portfolio consists of five wind projects and comes with an 18-year PPA attached. Announced in July 2021, the conditions precedent have been verified and financial closing has now taken place. With Cuatrecasas Law Firm acting as legal advisor to Onex, it represents Onex Renewables’ first step into the Iberian market.

Appointed by Onex due to their high level of technical skill and experience on the project, Exus will oversee the asset management and performance monitoring services for the portfolio. All five wind farms are currently in operation, with the portfolio having an estimated enterprise value of more than €500m. With the support of Exus, Onex will continue to expand its
growing renewable energy portfolio.

Carlos Tello Garcia, Co-Founder and COO at Exus, 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 program, is only the beginning.

“The sector has infinite opportunity, but the challenges can be complex. We look forward to supporting Onex Renewables as they advance their ambitions in the global transition to clean energy.”

Ramez Attieh, Senior Advisor at Onex Holding and Onex Renewables, said, “We are delighted to see this acquisition completed and are grateful for the support offered by Exus at every stage of the process. With this transaction successfully closed, we look forward to working further with Exus to ensure our projects are performing optimally. Ultimately, we see
this as a milestone as we work towards our vision of becoming a leading provider of renewables for long-term energy solutions on a global scale.”

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