Sonnedix boosts Spain operating footprint by 38 MW with two portfolio acquisitions
17 December, 2019

MADRID, Spain – Sonnedix, an independent global solar power producer, has boosted its operating capacity in Spain by 38.2MW, through the acquisition of two portfolios: A portfolio of 21 operating solar PV plants with a combined capacity of 26.9MW was acquired from a top tier Global Asset Manager in early December, and a portfolio of 9 operating solar PV plants with a combined capacity of 11.3MW was acquired in late November from Perwyn, a family funded investment firm.

The acquisitions take Sonnedix’s operating capacity in Spain to 252MW and underline the solar IPP’s long-term commitment to the Spanish market. The newly acquired assets consist of rooftop, greenhouse and ground-mounted solar plants located across high irradiation regions in Spain and represent a good geographic synergy with Sonnedix’s existing Spanish footprint.

Axel Thiemann, CEO of Sonnedix, said: “These acquisitions mark our return to the Spanish secondary market and complement our overall growth strategy as we actively seek to develop, acquire and operate other projects for the long term in OECD countries around the world.”

Carlos Guinand, Chairman of Sonnedix, commented: “Sonnedix’s first operational solar plant was in Spain and I’m delighted to mark our 10th anniversary with further acquisitions in this country. It has been a phenomenal 10 years and I look forward to our continued sustainable growth.”

Andrew Wynn, Managing Partner of Perwyn, said: “We are delighted to have contributed to the development of this exciting sector in Spain and to sell our assets to a very high quality owner in Sonnedix, who have been a pleasure to engage with throughout this process. We have had an excellent experience investing in Spain alongside our highly professional partners at Aurea Capital Partners.”

Aurea Capital Partners, investment manager and partner in both portfolios, has led the origination, acquisition, refinancing and divestment process from sellers´ side since 2014, currently has a pipeline under development of more than 1GW of solar PV projects with grid access granted.

Sonnedix was advised by Watson Farley & Williams (Legal and Tax), EY (Financial) and ATA (Technical) on both transactions. The sellers were advised by KPMG, PwC, Cuatrecasas and Araoz & Rueda.

/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. For more information about Sonnedix, please visit https://sonnedix.com

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