Solar IPP Sonnedix has announced the acquisition of a 5.4MW ground mounted facility in France from Element Power Solar. Fully operational since February 2011, the plant is located in St Martin Lalande, near Carcassonne and expected to generate in excess of 6,000MWh per annum.
Element Power Solar will continue to manage plant operations through its Element Power Asset Management division; a division which presently manages solar assets totalling 80MW across Europe.
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“We are delighted to be strengthening our French portfolio of already five PV power plants with this latest cash-accretive acquisition which reinforces economies of scale across our French portfolio. This acquisition shows our commitment to our selected markets in the long run and to projects of superior quality such as this one which has been developed, built and managed by Element Power Solar. We will continue to add high quality PV assets to our portfolio”, said Franck Constant, chairman of Sonnedix.
Paolo Pietrogrande, chairman of Element Power Solar said, “These types of partnerships will allow us to exploit our 2.2GW pipeline in North and Latin America, Europe and other emerging solar markets”.