Sonnedix purchases 12 photovoltaic plants in Spain

It becomes our country's largest producer, where it has almost one-third of its installed capacity

The solar power producer Sonnedix has acquired twelve photovoltaic plants in Spain which altogether add up to a total installed capacity of 46.7 megawatts. Thus, it becomes the first photovoltaic solar power operator in Spain, with an operating capacity of 214.2 megawatts. Last April, Sonnedix was positioned second in the market when it acquired from Centerbridge Partners the company Vela Energy, with 43 plants and a total capacity of 136 megawatts.

Sonnedix operates solar energy power plants in France, Italy, the United Kingdom, Chile, Puerto Rico, Japan, South Africa and Spain, with an operating capacity worldwide of 703 megawatts. With the new acquisitions with which it closed 2017, Spain comes close to representing one-third of this capacity.

The new assets in the Sonnedix portfolio include the six plants of Proyecto Summa in the provinces of Badajoz, Albacete and Cuenca, with a total of 32.9 megawatts. It has also gained ownership of the Madrigal plant in Ávila (1.4 MW), La Cubla in Jaén (4.1 MW), Olivenza in Badajoz (1.1 MW), Puig Gros in Lérida (1.68 MW) and both plants in Ollería in Valencia (5.5 MW).

In all of these transactions, Sonnedix counted with the collaboration of Q-Energy, which had already managed its bond issue in Spain and is currently responsible for the Vela Energy portfolio. In addition, the company was offered legal advisory services related to these acquisitions by the legal offices of Cuatrecasas, Pérez Llorca, Gómez-Acebo y Pombo, Uría Menéndez and Garrigues. As regards technical matters, the company obtained advisory services by G-Advisory and Altermia, and for concerns related to accounting and taxation, it counted with PWC, KPMG and Deloitte.

Andreas Mustad, CEO of Sonnedix, explains: “Expanding our portfolio in Spain is a major part of our strategy to consolidate our presence in markets of the OECD. Our sustained growth until 2017 has raised our global operating capacity beyond 700 megawatts, and we expect to reach new milestones in 2018".