International PV developer and investor Sonnedix has acquired a 136MW solar portfolio from Centerbridge Partners, in what is claimed to be one of the largest PV transactions in Europe.
The portfolio includes 43 operating and financed projects and Sonnedix said the acquisition will make it the second largest player in Spain. The cost of the investment was not disclosed.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
Sonnedix has also partnered with the management team that worked with Centerbridge to build and operate the projects in order to acquire further solar PV assets in Spain and elsewhere. Sonnedix and Centerbridge have also agreed to explore additional opportunities for further collaboration in Europe.
“We are very pleased to announce the successful closing of the Vela Portfolio transaction, our largest in Europe to date,” said Andreas Mustad, CEO of Sonnedix. “The acquisition is a major milestone for Sonnedix, demonstrating our long-term commitment to continued growth and taking our global operating capacity over 500MW.”
The company, which is majority owned by institutional investors advised by J.P. Morgan Asset Management, has invested €1 billion into new assets over the last 12 months.
Last week, Sonnedix acquired a 21.6MW solar portfolio comprising five ground-mount projects in Italy from private equity firm First Reserve.
