Sonnedix finalizes acquisition for 136 MW of Spanish solar capacity

Sonnedix, a global developer and owner of renewable energy projects, has finalized the acquisition of 136 MW of solar PV capacity in Spain, purchasing the Vela Portfolio from Centerbridge Partners.

The completion of the deal, first announced in January, involves the sales of 43 individual solar assets across Spain. As the new owner, Sonnedix is now the second-largest solar PV player in the country, and globally owns and operates more than 500 MW of solar capacity.

Over the past 12 months the firm – which is majority owned by institutional investors advised by J.P. Morgan Asset Management – has poured more than €1 billion in capital into new energy assets.

This latest transaction includes the stipulation that Sonnedix will work with Centerbridge to seek further opportunities to collaborate on the construction of additional solar farms in Europe.

Sonnedix had a busy 2016, investing more than €600 million new solar assets, primarily in South Africa, France and the Caribbean. This acquisition in Spain is the first such movement for the company in 2017.

However, earlier this year Sonnedix signed a partnership agreement with GSSG Solar develop 170 MW of PV assets in Japan.