Spain: Sonnedix plans to exceed 1GW in operation by 2024
Sonnedix, a major player in renewable energy, has acquired a 42MW solar power plant in Carpio del Tajo, Spain, increasing its operational capacity to over 1GW by the end of 2024.
| Sectors | Solar Energy, Photovoltaic |
|---|---|
| Themes | Investments & Transactions, Corporate Investment |
| Companies | Impax Asset Management, Sonnedix |
| Countries | Spain |
Sonnedix continues to expand its presence in Spain with the acquisition of a 42MW photovoltaic solar power plant in Carpio del Tajo, in the Castilla-La Mancha region. This acquisition is part of an expansion program aimed at reaching an operational capacity of over 1GW by the end of 2024. Axel Thiemann, CEO of Sonnedix, stated that this acquisition represents a crucial step for the company in its aim to meet the growing demand for energy in Spain. Since the beginning of the year, Sonnedix has inaugurated its largest portfolio of solar power plants in Spain to date, while pursuing a conversion and hybridization strategy to strengthen the country’s energy security.
Impact on the Spanish energy market
The new solar power plant, which reached its commercial commissioning date in October 2023, is expected to generate 89GWh in its first year of operation. This acquisition is part of a 78MW portfolio acquired from Impax Asset Management in April 2022, which also includes a 36MW solar power plant located in Herencia, Ciudad Real. Carsten Johansen, Head of the PE/Infrastructure Transactions team at Impax Asset Management, highlighted the completion of the construction program in Spain and the recent commissioning of the 42MW Portachuelo solar power plant. This transaction also marks the end of Impax’s exit program in Spain, with the sale of 118MW of solar PV projects.
Partnerships and strategic advice
For this transaction, Sonnedix was advised by Ashurst for legal aspects and Gadvisory for technical advice, while Impax Asset Management was advised by Gomez Acebo & Pombo. This collaboration underlines the importance of strategic partnerships in the renewable energies sector to facilitate the expansion and optimization of operational capabilities. Sonnedix’s rapid expansion in Spain illustrates the company’s dynamic growth and its important role in Europe’s renewable energy sector. By increasing its operational capacity and investing in cutting-edge technologies, Sonnedix is positioning itself as a key player in the market.
