Sonnedix completes acquisition of 26 MW solar portfolio in Spain

Sonnedix has completed the acquisition of an operating solar photovoltaic portfolio in Spain with a total capacity of 26 MW. The portfolio is comprised of three projects, totaling 11 solar photovoltaic (PV) plants throughout different regions in Spain including Aragón, Castilla, León, Castilla la Macha, and Murcia. All plants are operating under the Spanish regulatory regime.

The plants are expected to generate 44 GWh of clean electricity during their first year of operation. This is the equivalent of powering over 13,000 households, avoiding the emission of almost 7,000 metric tons of CO2 per year.

On this transaction, Sonnedix was advised by Eversheds Sutherland on the legal due diligence and SPA negotiation, Vector Renewables on the technical due diligence for all three projects, and EY on the financial due diligence for one of the projects. The sellers were advised by Cuatrecasas Zaragoza and Ad Solar on the SPA negotiation.