Sonnedix to acquire 136 MW solar PV portfolio in Spain

The acquisition of the Vela PV portfolio increases Sonnedix’ global capacity to almost 500 MW
The acquisition of the Vela PV portfolio increases Sonnedix’ global capacity to almost 500 MW

Independent Solar Power Producer Sonnedix on January 6th, 2017 announced it has signed a transaction to acquire the 136 MW Vela Portfolio from the investment management firm Centerbridge Partners, comprising 43 operating and financed solar photovoltaic (PV) plants in Spain, making Sonnedix the 2nd largest solar PV player in Spain.

The transaction is expected to close in Q1 and will bring Sonnedix’s total operating capacity to almost 500 MW globally.

Sonnedix Group is majority owned by institutional investors advised by J.P. Morgan Asset Management, and has invested in excess of EUR 600 million in new assets in the past 12 months.

As part of the transaction, Sonnedix and the management team that worked with Centerbridge to build and operate the portfolio have entered into a partnership to continue to acquire Solar PV assets in Spain and beyond.

In addition, Sonnedix and Centerbridge have agreed to explore additional opportunities for further collaboration in Europe.

“The acquisition of the Vela Portfolio and the re-entering of the Spanish Solar PV market is an important milestone for Sonnedix. The acquisition comes with an important pipeline, increases our global capacity to almost 500 MW and demonstrates our long-term commitment to continued growth,” said Axel Thiemann, Sonnedix’s Executive Vice President of Commercial.

Iñigo Olaguibel, on behalf of the management team, commented that “the Vela management team have enjoyed an excellent partnership with Centerbridge, and we look forward to continuing to grow with Sonnedix as our new partner.”

 

2017-01-09 | Courtesy: Sonnedix | solarserver.com © Heindl Server GmbH

Our editorial selection of breaking solar news is published at:
http://www.solarserver.com/solar-magazine/solar-news/top-solar-news.html