Sonnedix, an independent power producer, has completed the acquisition of 117.8 MW of portfolio of solar PV projects from Graziella Holding and other minority sellers. All projects in the portfolio are in the Ready-to-Build (RtB) stage.
The portfolio consists of two solar PV projects: Sonnedix Cagliari, of 69.5MW, and Sonnedix Nuoro, of 48.3MW, located in Sardinia, Italy. The plants are expected to start operations by the second half of 2023 and the first half of 2024, and once built, they will benefit from a feed-in tariff from Gestore dei Servizi Energetici.
Norton Rose Fulbright advised Sonnedix as legal advisor and Stantec as technical Advisor for this transaction.
“This acquisition demonstrates our long-term commitment to the Italian market”- said Axel Thiemann, CEO of Sonnedix – “and to pushing the energy transition forward. It’s a very exciting moment in the industry, and we have all intentions to become a true leader in this transition, expanding our presence in the country, and across other OECD markets”.
Recently, Gresham House, an asset manager, acquired the 20 MW Beavor Grange Solar project from Anesco, UK-based energy efficiency and renewable energy firm, as part of a three-year development and construction partnership of 200 MW solar projects. The Beavor Grange solar project, located near Axminster, Devon, is the fourth site to transact under the 200 MW ground mount solar partnership.
According to Mercom’s 1H and Q2 2022 report, 66 large-scale solar project acquisitions in Q2 2022 compared to 82 transactions in Q1 2022. In July 2022, Cypress Creek Renewables, a project developer and an independent power producer, acquired a 100 MW solar transmission project from Carson Power, a solar and storage developer. The project is in Rochester, New York, U.S., currently in the early stages of development and is expected to be operational by 2026.