Sonnedix on track to exceed 1GW operational capacity in Spain in 2024

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2 July, 2024

Acquisition of 42MW solar plant boosts continued expansion in the region

Madrid, Spain – Sonnedix, a leading renewable energy producer with over 3GW of operating capacity, has successfully closed the acquisition of a 42MW ground mounted solar PV plant in Carpio del Tajo, Toledo, Castilla-La Mancha, Spain.

Alongside continued progression of Sonnedix’s 300MW pipeline of projects currently under construction in Spain, the acquisition is set to take Sonnedix’s operational capacity in the market to over 1GW by the end of 2024.

Having reached Commercial Operating Date (COD) in October 2023 the fully operational plant is set to generate 89GWh of clean electricity during its first year of operation, equivalent to powering over 26,000 households, avoiding the emission of over 32,000 metric tons CO2 per year.

The plant is the second in a 78MW portfolio acquired from Impax Asset Management in April 2022, which also includes a fully operational 36MW solar PV plant located in Herencia, Ciudad Real.

Sonnedix’s CEO, Axel Thiemann, said:

“The completion of this acquisition is another important step in our journey to reaching 1GW of operating capacity in Spain by the end of this year. Already in 2024, we have inaugurated our largest portfolio of solar plants in Spain to date, while continuing to drive forwards our conversion and hybridization strategy to meet the country’s growing demand for clean, secure and flexible energy. As one of Sonnedix’s first ever markets, we’re incredibly proud to be one of the largest solar PV players in the region and to be playing an integral role in Spain’s energy transition.”

Carsten Johansen, Head of the PE/Infrastructure Transaction Team at Impax Asset Management, said:

“We are pleased to announce the conclusion of our construction program in Spain where we have recently brought the 42MW Portachuelo solar PV plant into operation. This transaction also concludes our exit program in Spain through our third fund where we have sold a combined 118MW of solar PV projects.”

Sonnedix has over 800MW operational capacity in Spain, with a further 300MW currently in construction and a development pipeline of roughly 300MW.

Sonnedix was advised on this transaction by Ashurst (legal) and Gadvisory (Technical Advisory), while Impax Asset Management was advised by Gomez Acebo & Pombo and PwC.



Notes to Editors

About Sonnedix

Sonnedix is a global renewable energy producer 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 10GW, including a development pipeline of more than 6GW, 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.

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About Impax Asset Management

Founded in 1998, Impax is a specialist asset manager, with approximately £39.6 billion / US$50.0 billion as at 31 March 2024 in both listed and private markets strategies, investing in the opportunities arising from the transition to a more sustainable global economy.

Impax is one of the longest established private markets fund managers in the large and rapidly growing renewable energy sector.

Impax has approximately 300 employees across its offices in the United Kingdom, the United States, Ireland, Hong Kong and Japan making it one of the investment management sector’s largest investment teams dedicated to sustainable development


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