Sonnedix Completes Four Transactions To Add To Its Italian Portfolio
Sonnedix, an independent solar power producer, has announced four acquisitions in Italy prior to the close of 2017, comprising eleven plants and taking its operating capacity in Italy to 114 MW, making Sonnedix one of the largest solar PV operators in the country.
The transactions include the purchase of Agnesi and Pozzolo 1 & 2, a 4 MW portfolio of one rooftop and two ground-mounted PV plants in Piedmont from the Gavio Group, Gioia del Colle, a 0.8 MW ground-mounted PV plant located in Apulia from Errenergia S.r.l. and Alfa & Beta Solaris, a 1.95 MW portfolio of three ground-mounted PV plants in Apulia from SO.CO.FIN. S.r.l.
Sonnedix has also acquired RGP Puglia 1 Srl and Florasolar Srl – subsidiaries of TEP (Solar Holdings) Limited (“TEP") – a 5MWp portfolio of four ground-mounted PV plants located in Apulia and Sicily. The RGP Puglia 1 Srl and Florasolar Srl transaction is the second between Sonnedix and TEP, with the first being the acquisition of 11 MW located in Abruzzo and Sicily that occurred in late 2016, and is in line with Sonnedix’s strategy of deepening its presence in OECD markets.
“We are delighted to announce the addition of eleven PV plants to our Italian portfolio, demonstrating our continuing commitment to the region," said Andreas Mustad, CEO of Sonnedix. “To further solidify our growing presence in Italy, Sonnedix will continue to look for new opportunities in the Italian market where our strategy and execution processes have been fruitful."
Following acquisitions throughout Europe during 2017, these transactions further increase Sonnedix’s global operating capacity to 670.43 MW.
On all transactions, Sonnedix was advised on accounting / tax matters by Studio Palea. Sonnedix was further advised on legal matter by Norton Rose Fulbright (Agnesi and Pozzolo 1 & 2) and Raffaelli Segreti Tassone Studio Legale (Gioia del Colle, Alfa & Beta Solaris, and RGP Puglia 1 Srl and Florasolar Srl) and received technical advice from Wise Energy (Agnesi and Pozzolo 1 & 2) and Moroni & Partners (Gioia del Colle, Alfa & Beta Solaris).
For RGP Puglia 1 Srl and Florasolar Srl, TEP was advised by Orrick, Herrington & Sutcliffe LLP (legal) and ValeCap Srl (financial advisor).