Sonnedix, the global solar independent power producer (IPP) has completed the acquisition of a 112 MWp solar photovoltaic (PV) development portfolio from Circle Energy, Faleuma, and Ríos Renovables.
The portfolio consists of seven PV projects located in Valladolid, a province of Castilla y León in north-western Spain. All projects are all in a well-advanced stage of development and construction works are expected to commence in the 4Q21. The construction of all PV plants will be done by EPC contractor Ríos Renovables.
Axel Thiemann, CEO of Sonnedix, said: “This acquisition is testament to Sonnedix’s commitment to the Spanish market and further demonstrates our appetite for growth in this, and other OECD countries. We are very proud of our active role in pushing the energy transition forward and expanding the use of clean, renewable energy.”
Sonnedix currently has a total capacity of over 4.6 GW worldwide, including a development pipeline of more than 2 GW. In Spain, the solar IPP operates more than 150 projects across the country, totalling 365 MW, and has almost 770 MW under construction or various stages of development.
On this transaction, Sonnedix was advised by Linklaters and Vector Renewables. Sellers were advised by Araoz y Rueda.