Independent power producer (IPP) Sonnedix has entered Poland’s solar market with the acquisition of Warsaw-based PV project developer Sun Power Energy.
Providing Sonnedix with a development pipeline of close to 1GW of projects across Poland, the transaction represents a “springboard for further expansion” in the country, the company said.
“The strong synergy with our core capabilities means we will jointly be able to accelerate the conversion of the pipeline, drive further growth and provide a long-term commitment to the Polish energy transition,” said Axel Thiemann, CEO of Sonnedix
The deal represents Sonnedix’s second market entry within three months, having purchased a 6MW operational solar portfolio in Germany in December. Present in six European markets as well as Chile, the US and Japan, the IPP is now seeking further opportunities through the acquisition of operational and development projects.
Other notable announcements from Sonnedix in recent months have seen the UK-headquartered company acquire a 300MW solar portfolio in Spain and post successful bids in a power auction in Chile that will allow it to build around 424MW solar PV projects in the country.
The move for Sun Power Energy will see it purchase a company with 20 professionals that develop solar projects from 0.5MW to “several dozen megawatts”, according to the developer’s website.
“Sonnedix is a perfect match, providing us with the opportunity to expand the development of solar projects and to operate these assets for the long term,” said Sun Power Energy managing director Justyna Nesteruk, who is joining Sonnedix as head of growth and representative director, Poland.
The news follows an uptick in transactions in Poland’s utility-scale solar sector, with local developer PAD-RES acquired in September and Lightsource bp announcing its entry into the country’s solar market through a co-development deal a month later.
Since then, utility Ignitis Group revealed it will spend US$57 million to acquire undisclosed Polish solar developers, while Swiss fund manager SUSI Partners has set up a platform that will build a portfolio of solar PV and wind assets in Poland.