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August 18, 2022

Sonnedix acquires 117.8MW solar project portfolio in Italy

The deal includes two solar plants with 212,000MWh of combined annual generation capacity.

Multinational solar energy company Sonnedix has purchased a 117.8MW solar photovoltaic (PV) portfolio in Italy from Graziella Holding and other minority sellers.

The financial details of the deal have not been disclosed.

The portfolio consists of the 69.5MW Sonnedix Cagliar solar plant and Sonnedix Nuoro, a solar farm with 48.3MW of capacity.

Located in Sardinia, the two facilities are currently in the ready-to-build stage.

They are expected to start operations by the second half of next year and the first half of 2024, benefitting from a feed-in tariff from Gestore dei Servizi Energetici once they become operational.

With 212,000MWh of annual energy generation capacity, the two solar facilities have the potential to displace more than 60,000t of carbon emissions a year.

They will collectively generate enough clean energy to power more than 80,000 homes in the region.

Sonnedix CEO Axel Thiemann said: “This acquisition demonstrates our long-term commitment to the Italian market and to pushing the energy transition forward.

“It’s a very exciting moment in the industry, and we have all intentions to become a true leader in this transition, expanding our presence in the country, and across other OECD markets.”

Norton Rose Fulbright served as legal advisor to Sonnedix for the transaction, while Stantec acted as the company’s technical advisor.

Sonnedix currently has more than 1.6GW of capacity in Italy. Of this, 293MW is operational and more than 1.3GW is in the development pipeline.

The company also operates in Chile, France, Germany, Japan, Poland, Spain, the US and the UK, with more than 400 operational solar facilities in total.

In June last year, Sonnedix purchased a 300MWp solar PV portfolio in Spain from RIC Energy.

Located in Cuenca, the solar portfolio is divided into two clusters, each with 150MWp of capacity.

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