M&As this week: RWE International, Sonnedix Power Holdings, and Wpd

1 September 2016 (Last Updated September 1st, 2016 18:30)

RWE International SE (Innogy SE) has reached an agreement with Belectric Holding to acquire its subsidiary BELECTRIC Solar & Battery Holding.

RWE International (Innogy) has reached an agreement with Belectric Holding to acquire its subsidiary BELECTRIC Solar & Battery Holding.

This subsidiary operates and maintains more than 280 utility-scale photovoltaic plants and roof-top systems with a total output capacity of approximately 1GWp.

The acquisition is expected to close in early 2017 and will help leverage RWE International’s solar portfolio.

Sonnedix Power Holdings has been acquired by a group of institutional investors advised by J.P. Morgan Asset Management.

The company has approximately 353MW of installed generation capacity across France, Italy, Spain, Japan, Puerto Rico, Chile, and the UK, with additional operating assets in South Africa and Thailand.

The legal advisor to J.P. Morgan Asset Management was Skadden, Arps, Slate, and Meagher & Flom, whereas the legal advisor to Sonnedix was Paul Hastings (formerly Paul, Hastings, Janofsky & Walker). Pan American Finance served as the finantial advisor for Sonnedix.

Wpd has reached an agreement with Volkswind to acquire its subsidiary Volkswind USA.

 Wpd is expected to expand its international activities, operating as Wpd Wind Projects following the transaction.