Sonnedix PV portfolio grows 46.7 MW with acquisition of 12 Spanish plants

Independent solar power producer, Sonnedix today announced the acquisition of 12 PV plants in Spain finalized at the end of 2017, amounting to 46.7 MW of total installed capacity. Sonnedix now has an operating capacity of 214.2 MW in the country, making it one of the largest solar PV players nationally.

The acquired plants include the 32.9 MW Project Summa, comprised of six separate plants located across the regions of Badajoz Albacete and Cuenca; the 1.4 MW Madrigal plant in Avila, which was acquired from Grupo Ionsolar Alternativas Energéticas Renovables, S.L.; the 4.1 MW Socuéllamos Solar Quince, S.L.  plant in Jaén, bought from Centerbridge Partners; the 1.1 MW Olivenza plant in Badajoz from Promociones León Badajoz; the 1.68 MW Puig Gros plant in Lleida from Genera Avante SL, and Dynameo Energias y Recursos, S.L; and the 5.5 MW Portichuelo and Olleria project, which is comprised of two plants in Valencia and was acquired from Estudio de Investigacion Servicio S.L.

Q-energy, which manages Sonnedix’s Vela Energy portfolio and previously co-led a bond issuance by Sonnedix in Spain, oversaw the transaction.

The acquisitions are in line with Sonnedix’s European growth strategies and its commitment to the Spanish market. After its purchasing endeavors throughout 2017, Sonnedix now has an operating capacity worldwide of 703 MW.

“Growing our Spanish portfolio is an important part of our long-term strategy to strengthen our presence in OECD markets,” said Andreas Mustad, CEO of Sonnedix. “Sustained growth through 2017 has taken our global operating capacity above 700 MW, and we look forward to further milestones in 2018.”

Sonnedix also recently announced the acquisition of a controlling interest in Cox Energy Chile SpA and a strategic partnership agreement with Cox Energy, involving the construction and operation of renewable energy projects in Chile. From these deals, Sonnedix has secured a 20-year off-take commencing in 2022, with the option to acquire a 74 MW solar project that boosts its current development portfolio.