Independent solar power producer Sonnedix has announced the expansion of its Italian portfolio through the acquisition of an 11 MW portfolio from Terni Energia S.p.A.
Sonnedix's Oriana solar farm in Puerto Rico (Sonnedix)
Earlier in the year, Sonnedix made four acquisitions, consisting of eleven plants thereby increasing its operating capacity in Italy to 114 MW. This new acquisition consists of 10 ground-mounted operating solar PV plants located in the Marche, Molise and Apulia regions. Terni Energia S.p.A. is an exchange-listed Italian company that develops technical solutions, products and services for the energy sector. The acquisition of its portfolio takes Sonnedix’s operating capacity in the country to 125 MW, reinforcing its position as one of the largest solar PV operators in the country.
These acquisitions are in line with Sonnedix’s growth strategy in Europe and demonstrate its long-term commitment to the Italian market. With this announcement, Sonnedix’s operating capacity worldwide is now 719 MW.
“We’re pleased to announce further growth in Italy with the addition of an 11 MW portfolio in central and southern Italy” said Andreas Mustad, CEO of Sonnedix. “Strengthening our Italian portfolio is a crucial part of our long-term strategy to increase our presence in OECD markets and we look forward to further growth in 2018.”
On this transaction, Sonnedix was advised on legal matters by Orrick, Herrington & Sutcliffe, on accounting / tax matters by RSM Studio Palea Lauri Gerla and received technical advice from Duff & Phelps.