MILAN, Italy - Sonnedix, the global independent solar power producer (IPP) has acquired a 17.7 MW portfolio of five operating solar PV facilities in Sicily, from the joint venture established between Canadian Solar and Manni Energy.
The portfolio, composed of ground-mounted PV plants, has a strong geographical synergy with Sonnedix’s existing Italian footprint. The plants are being integrated into Sonnedix’s portfolio in line with its long-term, operational excellence commitment. The acquisition takes Sonnedix’s operating capacity in Italy to 234MW.
The energy produced is being sold through a 10-year PPA (Power Purchase Agreement) signed with TrailStone Renewables GmbH, making it one of the longest-term PPA for a fully unsubsidized solar portfolio signed to date in Italy. This marks the entry of Sonnedix in the Italian unsubsidized market and takes the company to the forefront of the market of post-FiT PPAs transactions.
Axel Thiemann, CEO of Sonnedix said: This is an important milestone for Sonnedix, as we continue to position ourselves as a long-term solar company and social citizen, in line with our growth strategy in Italy, and in OECD markets around the world.
Sonnedix continues to seek opportunities to develop, own, and operate assets for the long term, as it expands its controlled capacity in OECD markets around the world, with 997MW in operation, almost 450MW (446.5) under construction and about 430MW (429.5) in late stage development.
For this transaction, Sonnedix was advised by Orrick (Legal). The technical aspects were followed by Duff & Phelps REAG. For corporate and tax aspects, Sonnedix was advised by RSM Studio Palea Lauri Gerla.
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Sonnedix Power Holdings Limited (together with its subsidiaries, “Sonnedix”) is an Independent Solar Power Producer (IPP) with a proven track record in delivering high performance cost competitive solar photovoltaic plants to the market. Sonnedix develops, builds, owns and operates solar power plants globally. For more information about Sonnedix please visit sonnedix.com
About Canadian Solar Inc.
Canadian Solar was founded in 2001 in Canada and is one of the world's largest solar power companies. It is a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions and has a geographically diversified pipeline of utility-scale solar power projects in various stages of development. Over the past 19 years, Canadian Solar has successfully delivered over 38 GW of premium-quality, solar photovoltaic modules to customers in over 150 countries. Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.
About Manni Energy
Manni Energy is the renewable energy company of Manni Group, devoted to development, construction and O&M services of utility scale and industrial photovoltaic systems. Manni Group, an industrial business in Verona with over 75 years of history, promotes innovation in processing and in using steel in its wide range of applications. Over the past 10 years, Manni Energy has successfully installed over 800 photovoltaic plants in Italy, market in which is currently managing over 250 plants as O&M Contractor. For more information, please visit www.mannienergy.com