OX2 finalizes the acquisition of ESCO Pacific
OX2 has completed its acquisition of ESCO Pacific for AUD126 million (US$85.4 million) on a debt-free basis. The purchase price includes a contingent consideration of up to AUD17 million (US$11.5 million) to the founder, based on sales and margins of the acquired project development portfolio in 2025-2027.
OX2 sees the Australian renewable energy market as offering significant growth opportunities and has identified plans to increase the value of ESCO Pacific by expanding its product offering to include turnkey solutions, scaling up operations through acquisitions, and expanding to onshore wind.
OX2's acquisition of ESCO Pacific is expected to help accelerate the growth of the industry in Australia.
Country updates
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May 03, 2023
Fugro wins contract for site investigation of 2200 MW offshore offshore wind project in Victoria
Fugro has been awarded the contract to conduct an offshore geotechnical site investigation for the 2.2 GW Star of the South (SOTS) offshore wind project in Australia. The wind farm, located off the co...
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May 03, 2023
Shell divests shares in Browse natural gas project to BP
BP has agreed to buy Shell's 27% stake in the Browse natural gas project off the northwest coast of Australia, expanding its interests in developing the country's largest untapped gas resource, even t...
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May 03, 2023
RWE awarded 50 MW battery storage project tender in New South Wales
RWE Renewables Europe & Australia has been awarded in New South Wales competitive tender process for the development of a 50 MW/400 MWh battery energy storage project located next to the...
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May 02, 2023
Squadron Energy starts commercial operation of 244 MW Bongo wind project in New South Wales
Squadron Energy has started the commercial operation of the 244 MW Bongo wind farm project located in New South Wales, Australia. Through its 46 turbines, the wind farm will generate enough ele...
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April 26, 2023
Mytilineos completes acquisition of 15% stake in the 560 MW osedale Green Hydrogen Project in New South Wales
Mytilineos has completed the acquisition of the 15% stake in the 560 MW Rosedale Green Hydrogen Project located in New South Wales, Australia for undisclosed financial details. The project, own...
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