J.P. Morgan Asset Management boosts investment in Sonnedix Group

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
This investment is the latest development in a partnership between J.P. Morgan and Sonnedix that started almost two years ago. Image: Sonnedix

J.P. Morgan Asset Management and the Sonnedix Group announced that investors advised by J.P. Morgan have acquired substantially all of the Sonnedix Group.

This news comes less than two years after both companies started up a joint-venture partnership in order to spur development in a number of solar markets. Since their first collaboration with J.P. Morgan, Sonnedix has increased its operating capacity from 117MW to 353MW across France, Italy, Spain, Japan, Puerto Rico, Chile and the UK — as well as in South Africa and Thailand through organic growth and the acquisition of over €300 million in operating assets. 

Sonnedix currently boasts a pipeline representing around 600MW of projects primarily in Japan and Chile.

Andreas Mustad, Sonnedix’s CEO, said: “This increased commitment by J.P. Morgan’s clients marks a new phase of growth in Sonnedix’s evolution. It’s an exciting time for the industry – as this deal shows, institutional investors are increasingly recognising the stability and value of solar generating assets, which is fuelling increased investment in the sector, leading to the large scale adoption of the solar solution worldwide.”

Matthew LeBlanc, Chief Investment Officer of OECD Infrastructure at J.P. Morgan Asset Management – Global Real Assets, added: “We’re delighted with this follow on investment. Over the past two years we’ve seen the Sonnedix strategic platform deliver dramatic growth, more than tripling its operating capacity and delivering quality projects and acquisitions across many jurisdictions.”

“Furthermore, there’s a clear alignment between the long term investment horizon of our clients and Sonnedix’s positioning as a leading solar power producer with long-term contracted projects in the markets they serve.”

“With the declining cost of implementation, coupled with the strong appetite for renewables as an asset class, the global Sonnedix platform is well positioned to continue its growth strategy.”

Read Next

January 4, 2022
A round-up of the latest solar news from the end of 2021, including Jinko Solar getting one step closer to listing its main subsidiary on the STAR Market, Massachusetts greenlighting more than 175MW of delayed projects and a couple of sizeable project acquisitions.
October 20, 2021
The main shareholder of Falck Renewables is selling its controlling stake in the solar and wind developer to an investor advised by JP Morgan Investment Management.
September 8, 2021
Sonnedix, Opdenergy and Canadian Solar were among the five successful bidders in Chile’s latest power auction, which took place yesterday (7 September) and will see the country support 2GW of renewables and storage installations.
June 28, 2021
Global IPP Sonnedix has acquired a 300MW solar PV portfolio from developer RIC Energy, with construction to start toward the end of 2022
PV Tech Premium
March 31, 2021
As the solar industry continues to mature and adopt more merchant-led business models, how will asset management principles need to adapt? This exclusive recording of a panel discussion from our Solar Finance & Investment Europe event answered that very question.
March 30, 2021
A round-up of project updates from across the global solar industry, including updates from Israel's Shikun & Binui, independent power producer Sonnedix and UK-based Hive Energy.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
January 26, 2022
Free Webinar
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 8, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal