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Sonnedix Adds Twelve PV Plants To Its Growing Spanish Portfolio

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Sonnedix, an independent solar power producer, has announced the acquisition of twelve photovoltaic plants in Spain prior to the
close of 2017, with a total installed capacity of 46.7 MW. Sonnedix is the
largest solar PV player in Spain, with an operating capacity in the country of
214.2 MW.

The ground mounted plants acquired include Project Summa
(32.9 MW portfolio of 6 plants) located across Badajoz, Albacete and Cuenca,
Madrigal (1.4 MW) in Avila from Grupo Ionsolar Alternativas Energéticas
Renovables, S.L. and Socuéllamos Solar Quince, S.L., La Cubla (4.1 MW) in Jaén
from Centerbridge Partners, Olivenza (1.1 MW) in Badajoz from Promociones León
Badajoz; Puig Gros (1.68 MW) in Lleida from Genera Avante SL and Dynameo
Energías y Recursos, S.L. and Portichuelo and Ollería (5.5 MW portfolio of 2
plants) in Valencia from Estudio de Investigación Servicio S.L.

The transactions were all executed under the existing
collaboration with Q-Energy, who manages Sonnedix's Vela Energy portfolio and
who previously co-led a bond issuance by Sonnedix in Spain.

These acquisitions are in line with Sonnedix's growth
strategy in Europe and demonstrate its long-term commitment to the Spanish
market. Following acquisitions throughout Europe during 2017, Sonnedix's
operating capacity worldwide is now 703 MW.

"Growing our Spanish portfolio is an important part of our
long-term strategy to strengthen our presence in OECD markets," said Andreas
Mustad, CEO of Sonnedix. "Sustained growth through 2017 has taken our global
operating capacity above 700 MW, and we look forward to further milestones in
2018."

For various aspects of the transactions, Sonnedix and
Q-Energy were advised by Cuatrecasas, Perez Llorca, Gomez-Acebo & Pombo,
Uria Menéndez and Garrigues (legal), G-Advisory and Altermia (technical), PWC,
KPMG and Deloitte (accounting / tax).

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