Hexicon has signed a Sale and Purchase Agreement with Ingka Investments, the investment arm of Ingka Group, and Oxan Energy to sell its 50% stake in two floating offshore wind projects in Italy, Sicily South and Sardinia Northwest. The transaction is expected to close in early April.
Under the agreement, Ingka Investments and Oxan Energy will acquire Hexicon’s 50% share for an upfront payment of 2.5 million euros, with additional payments linked to Environmental Impact Assessment approval, offtake auction outcomes, and the Final Investment Decision. The total potential consideration is up to 20 million euros.
Hexicon launched AvenHexicon and its Italian project portfolio in 2021 through a 50/50 joint venture with Avapa Energy. The divested projects have a combined capacity of 2,450 MW, with Hexicon previously holding 1,225 MW. Both projects are now progressing through the Environmental Impact Assessment process.
Following this sale, AvenHexicon retains five floating offshore wind projects in its portfolio.
