News: Sonnedix acquires 136 MW Solar Project Portfolio in Spain
Media Article - Sonnedix, an independent power producer, has acquired a 136 MW solar project in Spain from Qualitas Energy, an investment firm focused on renewable energy, energy transition, and sustainability investments.
The portfolio comprises 169 solar photovoltaic projects across the country and has been operating since 2007-2014 under the Spanish regulatory regime.
Sonnedix's operational capacity in Spain has reached 770 MW, and it also has more than 850 MW of projects under construction and various phases of development.
Axel Thiemann, CEO of Sonnedix, said, "This acquisition demonstrates our capacity and dedication to powering the energy transition in the country - where we started our journey in 2009, and where today we have a total capacity of over 1.4 GW - expanding our portfolio of projects and building relationships with partners like Qualitas Energy, who share our vision of a future where renewable energy leads, improving the lives of our communities."
Iñigo Olaguíbel, Founding Partner and CEO of Qualitas Energy, "We are delighted to have a partner such as Sonnedix, which accompanies us in our mission to decarbonize the global economy, and we are proud to continue helping to consolidate the Spanish energy market. Furthermore, this transaction demonstrates our purchasing, financing, and operational optimization capabilities and allows us to further strengthen our business strategy."
Qualitas Energy also recently announced the launch of its fifth flagship fund, Q-Energy V (QE V), to primarily invest across Germany, the UK, Spain, Italy, and Poland, targeting renewable energy assets in operation and under development.
On this transaction, Sonnedix was advised by Pérez-Llorca (fiscal, legal) and G-advisory (technical). Qualitas Energy was advised by Santander (financial) and Gómez-Acebo y Pombo (legal).
Last week, Sonnedix acquired a portfolio of 26 MW of operational solar projects in Spain. The portfolio comprises three projects, totaling 11 solar photovoltaic sub-projects across different regions in Spain, including Aragón, Castilla, León, Castilla la Macha, and Murcia.
According to Mercom's recently released Annual and Q4 Solar Funding and M&A Report, there were 268 large-scale solar project acquisitions in 2022 compared to 280 transactions in 2021. In 2022, about 66 GW of solar projects were acquired, with project developers picking up the most, reaching 35.7 GW. Solar project acquisitions in terms of GW were at the second-highest level ever.