Sonnedix strengthens Italian presence with acquisition of 11.2 MW portfolio – 79 MW total operating PV capacity in Italy

09/06/2016 | Print view

Sonnedix operates 79 MW PV systems in Italy. - © Sonnedix — © Sonnedix

Sonnedix operates 79 MW PV systems in Italy.

Independent power producer Sonnedix has acquired an 11.2 MW PV power plant portfolio in Italy from Trading Emissions PLC. The portfolio comprises three ground-mounted solar PV plants: Basciano and Cupello in Abruzzo, and Librandello in Sicily.

The transaction is expected to close in Q4 2016. With the acquisition of the ‘Solar Holding’ 48 MW solar photovoltaic portfolio in March 2016 and the 3 MW VR portfolio in December 2015, it brings Sonnedix’s total operating capacity to 79 MW in Italy and 353 MW globally.

Long-term commitment to the Italian market

“This acquisition is in line with our strategy of deepening our Italian presence following acquisitions in December 2015 and March 2016. It demonstrates our long-term commitment to the Italian market, and will allow us to utilize economies of scale as we continue to grow” said Axel Thiemann, Sonnedix’s Executive Vice President of Commercial.

Institutional investors owned

End of August J.P. Morgan Asset Management and the Sonnedix Group announced that institutional investors advised by J.P. Morgan Asset Management acquired substantially all of the Sonnedix Group (Sonnedix). This is less than two years after the two firms began partnering to pursue opportunities in the rapidly expanding global solar market. Sonnedix develops, builds, owns and operates solar power plants globally. (HCN)