Sonnedix Acquires Solar Developer Sun Power Energy

Sonnedix, an independent solar power producer (IPP), has acquired Warsaw-based Sun Power Energy, a solar project developer in Poland.

The acquisition gives Sonnedix close to a 1 GW development pipeline across Poland and is a springboard for further expansion into a new European market.

According to Mercom’s funding report, in December 2021, Sonnedix acquired a 5.6 MW operational solar portfolio in Germany from Danish investors. After its first German acquisition, Poland is Sonnedix’s second market entry within three months. Sonnedix is now present in six European countries, and its operations are in Chile, the USA, and Japan.

“The Sun Power Energy platform acquisition aligns perfectly with our growth strategy for Europe; we are gaining an excellent local team and an impressive pipeline as a catalyst for our ambitious growth strategy for Poland,” said Axel Thiemann, CEO of Sonnedix.

“The strong synergy with our core capabilities means we will jointly be able to accelerate the conversion of the pipeline, drive further growth, and provide a long-term commitment to the Polish energy transition,” he added.

Sun Power Energy’s Managing Director Justyna Nesteruk, who joins Sonnedix as Head of Growth and Representative Director, Poland, said: “Sonnedix is a perfect match, providing us with the opportunity to expand the development of solar projects and to operate these assets for the long term.”

The Poland acquisition brings Sonnedix’s total operating assets and projects under development and construction to over 6.5 GW globally.

On this transaction, Sonnedix was advised by Santander (Financial), CMS (Legal), and DNV (Technical), while Sun Power Energy was advised by DWF (Legal).

In December 2021, Sonnedix acquired an operating portfolio of 22 solar PV projects totaling 36.8 MW in Spain from Madrid-based private equity manager Kobus Partners.