MADRID, Spain – Sonnedix, the international Renewable Energy Producer (REP), closed the acquisition of a solar PV plant located in Herencia, Ciudad Real, that has recently achieved Commercial Operation Date (COD), from Impax Asset Management, who acquired the project rights in 2019.
Fraile, a 36MWp plant, is expected to generate 78GWh of clean electricity during its first year of operation. This is the equivalent of powering over 23,000 households, avoiding the emission of almost 12,000 metric tons CO2 per year.
“I am excited to see the growth of our footprint in Spain, where we have been present since our founding in 2009,” said Axel Thiemann, CEO of Sonnedix. “Our team has done an exceptional job toward working together to optimize our portfolio as we evolve as key players in the Energy Transition in Europe”.
Carsten Johansen, Head of the PE/Infrastructure Transaction Team at Impax, stated: “Impax is proud to be an established investor in the Spanish renewables market. We are pleased to bring these 36MWp into operation, and happy to be partnering again with Sonnedix.”
The sales process was managed by PWC. Impax was counselled by Gómez-Acebo & Pombo, and Sonnedix was counselled by Ashurst.
The plant is powered by Canadian Solar modules, PV Hardware trackers, and JEMA inverters. ELMYA was the designated EPC contractor and will also serve as the Operations and Maintenance (O&M) for the first two years.
This is the fourth acquisition by Sonnedix in Spain in 2022, where it currently manages 181 solar projects with a total capacity up to 1GW, and a total operational capacity of almost 600MW.
Sonnedix is an international Renewable Energy Producer (REP) with over a decade-long trajectory of sustainable growth. Sonnedix develops, builds, and operates renewable energy projects for the long-term, with a focus on providing green, affordable electricity to our customers, and acting as a true social citizen there where it operates.
Sonnedix currently has a total capacity of over 8GW, including a development pipeline of more than 5GW, across Chile, France, Germany, Italy, Japan, Poland, Portugal, Spain, USA, and UK. The company continues to expand its global footprint across OECD countries, through acquisitions and development of renewable energy projects.
Founded in 1998, Impax is a specialist asset manager, with approximately £37.4bn / US$42.9bn as at 31 October 2022 in both listed and private markets strategies, investing in the opportunities arising from the transition to a more sustainable global economy.
Impax believes that capital markets will be shaped profoundly by global sustainability challenges, including climate change, pollution and essential investments in human capital, infrastructure and resource efficiency. These trends will drive growth for well-positioned companies and create risks for those unable or unwilling to adapt.
The company seeks to invest in higher quality companies with strong business models that demonstrate sound management of risk. Impax offers a well-rounded suite of investment solutions spanning multiple asset classes seeking superior risk-adjusted returns over the medium to long term.
Impax has approx. 260 employees across its offices in the United Kingdom, the United States, Ireland and Hong Kong, making it one of the investment management sector’s largest investment teams dedicated to sustainable development.