Sonnedix acquires majority stake in Cox Energy Chile

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
The cost of the acquisition and the percentage of the stake were not disclosed. Credit: Sonnedix

Independent power producer Sonnedix has acquired a controlling interest in Cox Energy Chile, a subsidiary of Spanish firm Cox Energy, and the two firms will partner on building and operating renewable energy projects in Chile.

The cost of the acquisition and the percentage of the stake were not disclosed.

Cox Energy Chile holds power supply contracts with 23 Chilean distribution companies totalling 264GWh of power supply per annum.

Under the acquisition, Sonnedix has secured a 20-year off-take agreement starting in 2022, with the option to acquire a 74MW solar project.

Sonnedix will also partner with Cox Energy in managing a portfolio of operating assets. Under the agreement, the initial investment will go towards constructing large-scale facilities in Chile.

Pablo Pulido, global head of development for Sonnedix, said: “This acquisition and its long-term power supply agreement with creditworthy off-takers marks a significant milestone for Sonnedix in Chile. The country has one of the highest solar irradiation profiles in the world and a highly competitive open electricity market. This step is consistent with our commitment in Chile and our long-term strategy to build, own and operate assets in OECD countries.”

Read Next

May 13, 2022
Investment management firm Axium Infrastructure has acquired Boston-based solar and energy storage developer BlueWave, its first acquisition of a renewables developer.
May 12, 2022
Power conversion technology provider Ampt has delivered 240MW of string optimisers to the “largest solar-plus-storage plant” in Latin America according to Ampt.
May 12, 2022
Energy investment platform CleanCapital has secured a US$200 million credit facility to support its pipeline of distributed solar and energy storage projects.
May 10, 2022
Cero Generation, a solar portfolio company of Macquarie’s Green Investment Group (GIG), has closed financing on its first corporate power purchase agreement (PPA)-enabled agrivoltaic project in Italy.
May 9, 2022
Solar developer Lightsource bp is setting up operations in France as it looks to reach a 1GW pipeline of large-scale PV projects in the country by 2026.
May 6, 2022
German renewables company BayWa r.e. will tender 10TWh of green electricity later this year, describing the move as a “turning point” for Europe’s power purchase agreement (PPA) market.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 14, 2022
Napa, USA
Solar Media Events
October 4, 2022
New York, USA