Renewable energy company OX2 to buy ESCO Pacific for $85 mln

Swedish renewable energy company OX2 said on Friday it has signed an agreement to acquire Australian renewable developer ESCO Pacific for 126 million Australian dollars ($84.61 million).

The transaction is expected to close by the end of April, OX2 said.

The purchase price is on a debt free basis, and there is a contingent consideration of up to 17 million Australian dollars to the founder based on sales and margins in 2025-2027 from ESCO Pacific's development portfolio.