MADRID, Spain – Sonnedix, an independent solar power producer, is pleased to announce the acquisition of twelve photovoltaic plants in Spain prior to the close of 2017, with a total installed capacity of 46.7 MW. Sonnedix is the largest solar PV player in Spain, with an operating capacity in the country of 214.2 MW.
The ground mounted plants acquired include Project Summa (32.9 MW portfolio of 6 plants) located across Badajoz, Albacete and Cuenca, Madrigal (1.4 MW) in Avila from Grupo Ionsolar Alternativas Energéticas Renovables, S.L. and Socuéllamos Solar Quince, S.L., La Cubla (4.1 MW) in Jaén from Centerbridge Partners, Olivenza (1.1 MW) in Badajoz from Promociones León Badajoz; Puig Gros (1.68 MW) in Lleida from Genera Avante SL and Dynameo Energías y Recursos, S.L. and Portichuelo and Ollería (5.5 MW portfolio of 2 plants) in Valencia from Estudio de Investigación Servicio S.L.
The transactions were all executed under the existing collaboration with Q-Energy, who manages Sonnedix’s Vela Energy portfolio and who previously co-led a bond issuance by Sonnedix in Spain.
These acquisitions are in line with Sonnedix’s growth strategy in Europe and demonstrate its long-term commitment to the Spanish market. Following acquisitions throughout Europe during 2017, Sonnedix’s operating capacity worldwide is now 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.”
For various aspects of the transactions, Sonnedix and Q-Energy were advised by Cuatrecasas, Perez Llorca, Gomez-Acebo & Pombo, Uria Menéndez and Garrigues (legal), G-Advisory and Altermia (technical), PWC, KPMG and Deloitte (accounting / tax).