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Pörssitiedote

Hexicon (publ) Divests two of its Italian Projects to Ingka Investments and Oxan Energy

Hexicon
Lataa tiedote

Today Hexicon AB (publ) announced that it has signed a Sale and Purchase Agreement (SPA) with Ingka Investments, the investment arm of Ingka Group, the largest IKEA retailer, and Oxan Energy to sell its 50% stake in two Italian floating offshore wind projects, Sicily South and Sardinia Northwest. The transaction is expected to close in early April.

According to the SPA, Ingka Investments and Oxan Energy will take over Hexicon’s 50% share in the two projects an upfront payment of 2.5 MEUR and conditional milestone payments at Environmental Impact Assessment approval and at offtake auction wins and/or at Final Investment Decision. The total potential consideration is up to 20 MEUR.

Hexicon initiated AvenHexicon and the Italian project portfolio in 2021 with its 50/50 joint venture partner, Avapa Energy. The divested projects, Sicily South (1,150 MW) and Sardinia Northwest (1,300 MW), of which Hexicon held 1,225 MW, are now proceeding with their Environmental Impact Assessment. This is the first major cost-driving phase of a project and, therefore, requires significant capital and resource investments.

"We are very pleased to make this announcement, as it confirms both our business model and that we have built an attractive project portfolio”, says Marcus Thor, CEO of Hexicon. “We are confident that Ingka and Oxan are an ideal match to drive these two projects through to commercialisation."

Following this divestment, five floating offshore wind projects will remain in AvenHexicon’s portfolio. Hexicon will continue its project development in Italy through AvenHexicon to build value in its portfolio and support Italy on its journey towards climate neutrality.

For more information, please contact:


Hexicon’s Communications Department
communications@hexicongroup.com

About Hexicon


Hexicon is an early project developer in floating wind, opening new markets in deep water areas, and a technology provider with a patented floating wind design – TwinWind™. The dual business model supports the world’s transition to sustainable energy. Floating wind is an important part of the future energy mix. It can be deployed quickly and at scale, contributing to the electrification of society at large. Hexicon operates in several markets across Europe, Africa and Asia. Hexicon is listed on Nasdaq First North Premier Growth Market (ticker HEXI). Certified Adviser is FNCA Sweden AB.

www.hexicongroup.com

This information is information that Hexicon AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-03-26 13:30 CET.

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Hexicon (publ) Divests two of its Italian Projects to Ingka Investments and Oxan Energy

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