J.P. Morgan Asset Management increases its investment in the Sonnedix Group

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
J.P. Morgan Asset Management increases its investment in the Sonnedix Group

J.P. Morgan Asset Management and the Sonnedix Group have announced that institutional investors advised by J.P. Morgan Asset Management have acquired substantially all of the Sonnedix Group.

The announcement comes less than two years after the two firms began partnering to pursue opportunities in the rapidly expanding global solar market.

Since then Sonnedix has enjoyed consistent and sustainable growth increasing operating capacity from 117 MW to 353MW across France, Italy, Spain, Japan, Puerto Rico Chile and the UK as well as in South Africa and Thailand through both organic growth and the acquisition of over €300 million (US$338 million) of operating assets. Sonnedix also has a pipeline representing approximately 600 MW of projects in construction and pre-construction stages primarily in Japan and Chile.

Sonnedix is focused solely on solar photovoltaics (PV) globally, including Japan, continued growth in Europe and expansion into the US.

Skadden, Arps, Slate, Meagher & Flom acted as legal advisor to J.P. Morgan Asset Management.

Paul Hastings and Pan American Finance advised Sonnedix in the transaction.

Commenting on the deal, Andreas Mustad, Sonnedix’s CEO said:

“This increased commitment by J.P. Morgan’s clients marks a new phase of growth in Sonnedix’s evolution. It’s an exciting time for the industry – as this deal shows, institutional investors are increasingly recognising the stability and value of solar generating assets, which is fuelling increased investment in the sector, leading to the large scale adoption of the solar solution worldwide.”

Commenting on the deal, Matthew LeBlanc, Chief Investment Officer of OECD Infrastructure at J.P. Morgan Asset Management – Global Real Assets, said:

“We’re delighted with this follow on investment. Over the past two years we’ve seen the Sonnedix strategic platform deliver dramatic growth, more than tripling its operating capacity and delivering quality projects and acquisitions across many jurisdictions.”

“Furthermore, there’s a clear alignment between the long term investment horizon of our clients and Sonnedix’s positioning as a leading solar power producer with long-term contracted projects in the markets they serve.”

“With the declining cost of implementation, coupled with the strong appetite for renewables as an asset class, the global Sonnedix platform is well positioned to continue its growth strategy.”

List of country news

Country news

  • September 09, 2016

    Kayne Private Energy Income Fund raises $1.55 billion in commitments

    Kayne Anderson Capital Advisors, L.P. has announced the final close of its newest energy-focused private equity fund, the Kayne Private Energy Income Fund, L.P. (KPEIF), at total capital commitments of US$1.55 billion. Read more
  • September 09, 2016

    First Solar announces board transition

    First Solar, Inc. has announced that following the company's successful leadership transition, the First Solar Board of Directors and James A. Hughes have mutually agreed that Mr. Hughes will no longer serve in an advisory capacity to the company and will step down from the Board. As previously announced on April 2016, Mark R. Widmarwas appointed Chief Executive Officer. Read more
  • September 07, 2016

    Apex Clean Energy announces CEO and President

    Apex Clean Energy (Apex) has announced the promotion of Mark Goodwin to president and chief executive officer of the company. Read more
  • September 07, 2016

    Pine Gate Renewables announces US$20 million Investment from New Energy Capital

    Pine Gate Renewables, LLC, a leading solar project developer, has announced US$20 million in new project financing from investment affiliates of New Energy Capital Partners. Read more
  • September 06, 2016

    Williams Partners advances Gulf Connector Project

    Williams Partners L.P. has announced that Transcontinental Gas Pipe Line Company, LLC (Transco) has filed an application with the Federal Energy Regulatory Commission (FERC) seeking authorization to construct the Gulf Connector Project Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.