Independent power producer Sonnedix has bought a 74.7MW portfolio of PV plants in Spain from private equity investor JZ International (JZI) and Elliott Advisors (UK).
Eliantus consists of 22 ground-mounted plants that have been operational since between 2008 and 2013. The deal brings Sonnedix’s Spanish portfolio to a capacity of 330.7MWp.
“Under these unprecedented times, it is with agreements like this that we deliver on our long-term commitment with the Spanish market,” said Axel Thiemann, CEO of Sonnedix.
Launched in July 2017, Eliantus Energy is a vehicle established by JZI and Elliott Advisors with a joint equity commitment of €100 million.
JZI managing partner Miguel Rueda said: “This transaction, under the present circumstances, demonstrates the strong long-term fundamentals and the commitment of reputable institutional investors to the PV sector in Spain.”
Sonnedix has more than 1GW of photovoltaic power plants in operation as well as several hundred MW under development.
Last month, the IPP and French financier Natixis closed senior financing facilities to bring forward up to 100MWp of solar in Chile.