Abrdn, Blu-H Energy acquire biogas plant in Italy

The acquisition is part of a broader scope of transactions involving the joint venture, Sorriso HoldCo S.r.l., which is expected to be finalized in the coming months.

The deal marks the third investment by Abrdn’s third core infrastructure fund ASCI III, which is currently fundraising and investing in the pan-European infrastructure mid-market. ASCI III, an Article 8 fund, under the EU Sustainable Finance Disclosure Regulation, is seeking to raise 1 billion euros.

Abrdn is a global investment company and one of Europe's leading asset managers in terms of volume of assets under management, while Blu-H Energy is a green energy investment platform that specializes in renewable gases such as biomethane and green hydrogen.

Blu-H Energy focuses on building long-term partnerships with industry operators and industry experts to boost the sustainable development of the assets the firm invests in.

The investment partners were advised on the transaction by Green Horse, whose team oversaw the joint venture for all legal aspects related to the transaction, from due diligence that included the analysis of regulatory aspects, financial documentation and project contracts, to the negotiation of contractual documents related to the acquisition.

Green Horse’s team of advisers comprised Carlo Montella, Jacopo Giansante, Francesco Palmeri, Michele Carli, Olga Capacchione, Chiara Chirichigno and Andrea Oddo.

Green Horse Advisory, an acronym for GREEN HORizon for a Sustainable Economy, is an Italian advisory project dedicated exclusively to the energy transition, green economy and sustainability sectors. The firm has a team of professionals with ample experience in legal, regulatory, financial and development engineering consulting and who work alongside multinational energy companies, large investment funds, project developers and sponsors, as well as banks and other capital providers and investors active in the green energy industry.

EY's Strategy & Transaction - Infrastructure team acted as M&A advisor, and was led by director Francesco Semeraro.