MILAN, Italy – Sonnedix is pleased to announce that it has acquired an 11.2MW power plant portfolio in Italy from Trading Emissions PLC, in a transaction that is expected to close in Q4 2016.

The portfolio comprises three ground-mounted solar PV plants; Basciano and Cupello in Abruzzo, and Librandello in Sicily.

The move to further consolidate Sonnedix’s presence in Italy follows expansion into Chile with the completion of three PV plants totaling 7.5MW on 29 August 2016.

With the acquisition of the ‘Solar Holding’ 48MW solar photovoltaic portfolio in March 2016 and the 3MW VR portfolio in December 2015, it brings Sonnedix’s total operating capacity to 79MW in Italy and 353MW globally.

“This acquisition is in line with our strategy of deepening our Italian presence following acquisitions in December 2015 and March 2016. It demonstrates our long-term commitment to the Italian market, and will allow us to utilize economies of scale as we continue to grow” said Axel Thiemann, Sonnedix’s Executive Vice President of Commercial.

On 31 August 2016 J.P. Morgan Asset Management and the Sonnedix Group announced that institutional investors advised by J.P. Morgan Asset Management acquired substantially all of the Sonnedix Group (Sonnedix), less than two years after the two firms began partnering to pursue opportunities in the rapidly expanding global solar market.