Allen & Overy advises OX2 on the sale of its wind farm and solar farm in Poland
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Publications: 25 October 2023
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Allen & Overy advised OX2 on the sale of its wind farm and solar farm in Poland to Ingka Investments, the investment arm of Ingka Group, the world’s largest IKEA franchise. This transaction marks the first sale of a solar farm by OX2 in Poland.
As part of the transaction, OX2 sold the Wysoka wind farm and the Recz solar farm in Poland to Ingka Investments, with a total contract value of EUR 173 million, including technical and commercial management services for the Wysoka wind farm. The Recz solar farm is the first solar farm OX2 has developed and sold, and once commissioned it will have an installed capacity of 29 MW. The Wysoka wind farm will have an installed capacity of 63 MW.
The Allen & Overy team was led by counsel Kamil Jankielewicz, supported by partners Jarosław Iwanicki and Dan Cocker, and associates Farah El Yacoubi (Paris), Antoni Roszkowski, Mateusz Kwolek, Maksymilian Jabłecki and Paweł Grzesik.
Kamil Jankielewicz commented:
This transaction confirms the leading position of our PENRI (Projects, Energy, Natural Resources and Infrastructure) practice in Poland. We are proud to have assisted in the transaction, which meets the enormous challenge of the transformation of the Polish economy to achieve climate neutrality.