PARIS, France – Sonnedix, a global solar independent power producer (IPP), has acquired five plants with a total operating capacity of 55 MWp from Glennmont Partners.

The five projects are car park canopies at car manufacturing facilities in different locations across northern France. This acquisition expands Sonnedix’s operating capacity to 244 MWp in France.

Axel Thiemann, CEO of Sonnedix, said “We’re delighted to exceed 200 MW operating capacity in France in 2019. Our focus on operational excellence ensures all assets are quickly and efficiently onboarded to our global platform. The pace of growth in-country is being mirrored in our other Europe markets, as we actively seek to develop, build and acquire assets across our platform for the long term.”

Joost Bergsma, CEO and Founding Partner of Glennmont Partners, commented “Glennmont is delighted with the outcome of this important sale of our French solar portfolio with appetite for assets showing no signs of abating. The deal further demonstrates Glennmont’s strategy of investing early in high quality assets and optimising these in the initial years of their operational life to facilitate a steady stream of cash flow generation.”

Sonnedix was advised in the acquisition by Linklaters (Legal), WPO (Technical) and CMS Francis Lefebvre (Tax).