VALLADOLID, Spain – Sonnedix, the global solar independent power producer (IPP) has completed the acquisition of a 112MWp solar PV development portfolio from Circle Energy, Faleuma, and Ríos Renovables.
The portfolio consists of seven photovoltaic projects located in Valladolid, a province of Castilla y León in north-western Spain. All projects are all in a well-advanced stage of development and construction works are expected to commence in the last quarter of 2021. The construction of all PV plants will be done by EPC contractor Ríos Renovables.
Axel Thiemann, CEO of Sonnedix, said: “This acquisition is testament to Sonnedix’s commitment to the Spanish market and further demonstrates our appetite for growth in this, and other OECD countries. We are very proud of our active role in pushing the energy transition forward and expanding the use of clean, renewable energy.“
Sonnedix currently has a total capacity of over 4.6GW worldwide, including a development pipeline of more than 2GW. In Spain, the solar IPP operates more than 150 projects across the country, totalling 365MW, and has almost 770MW under construction or various stages of development.
On this transaction, Sonnedix was advised by Linklaters and Vector Renewables. Sellers were advised by Araoz y Rueda.
Sonnedix Power Holdings Limited (together with its subsidiaries, Sonnedix) is a global solar Independent Power Producer (IPP) with a proven track record in delivering high performance cost competitive solar photovoltaic plants to the market. Sonnedix develops, builds, owns and operates solar power plants globally, with a total capacity of over 4.6GW, including a development pipeline of more than 2GW. Sonnedix continues to expand its global footprint across OECD countries, with 350 solar plants in operations, as well as several hundred MW under construction or various development stages in Italy, France, Spain, USA/Puerto Rico, Chile, South Africa and Japan.
About Circle Energy
Circle Energy is one of the leading developers of solar PV projects in Spain, with a cumulative track record in excess of 600 MW across all Spanish regions and a current pipeline of c. 2 GW. Circle, founded in 2016 by some of the original owners of Langley Renovables and Vector Renewables, carries out its development activities, where its executive team have over 20 years of proven experience worldwide, thanks to a seasoned in-house team of engineers, real estate managers and project management experts.
About Ríos Renovables
Ríos Renovables, located in Fustiñana (Navarre) has been a relevant player in the renewable energy industry since 2004, having built and installed over 200 MW, which are currently under O&M contracts. The group is active on areas such as project development, engineering, EPC and O&M, as well as industrial, commercial, and residential self-consumption, with hundreds of facilities executed in the last years.