Sonnedix acquires Eliantus, A 74.7 MW solar PV portfolio in Spain from JZI and Elliott
16 July, 2020

MADRID, Spain – Sonnedix, the global independent solar power producer (IPP) has acquired Eliantus, a fully-operating portfolio under the Spanish regulatory regime, from JZI and Elliott.

The 74.7 MW portfolio is comprised of 22 ground-mounted PV plants, operating since 2008- 2013, located in Valencia, Toledo, Sevilla, Cáceres, Murcia, Badajoz and Albacete.

Axel Thiemann, CEO of Sonnedix, said: “under these unprecedented times, it is with agreements like this that we deliver on our long-term commitment with the Spanish market, playing an active role in the economic recovery of the country while continuing to fulfil our purpose of harnessing the power of the sun to build a bright future “.

The acquisition brings the Sonnedix Spanish portfolio to a capacity of 330.7 MWp, reinforcing the company’s position as the top solar IPP in the country, and a leading player in the solar PV generation sector.

JZI Managing Partner, Miguel Rueda, said: “Eliantus is a highly successful result of our buy-and-build strategies across various sectors in Europe. This transaction, under the present circumstances, demonstrates the strong long-term fundamentals and the commitment of
reputable institutional investors to the PV sector in Spain”.

JZI Senior Partner, Alvaro Mata, said: “Our management partners together with JZI have done an outstanding job since creating Eliantus in 2017, consolidating a high-quality 74.7MW portfolio through various acquisitions and issuing two project-finance bonds prior to this sale. We thank them for all their hard work, and we hope we can continue developing more opportunities together”.

On this transaction, Sonnedix was advised by EY for financial and tax due diligence, Vector Cuatro for technical due diligence, and Pérez Llorca as legal advisor.

On this transaction, JZI and Elliott have been advised by PWC as financial advisor and Herbert Smith Freehills as legal advisor.

/Ends

About Sonnedix

Sonnedix Power Holdings Limited (together with its subsidiaries, Sonnedix) is an Independent Solar 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, including over 1GW of photovoltaic power plants in operation, as well as several hundred MW under development, in Italy, France, Spain, USA/Puerto Rico, Chile, South Africa and Japan.

About Eliantus Energy

Launched in July 2017, Eliantus Energy is a vehicle established by JZ International and Elliott Advisors (UK) Ltd. with a joint equity commitment of €100 million. Eliantus strategy has been to consolidate through acquisitions a leading platform in the solar power industry in Spain.
For more information, please visit www.sonnedix.com Media contact: comms@sonendix.com

About JZI

JZ International (“JZI”) is a leading lower middle market pan-European private equity investor specializing in partnering with family/owner managed businesses looking for longer term growth capital. JZI operates from offices in London, Madrid, Amsterdam and New York.

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