Sonnedix Signs A 11-Year Power Purchase Agreement (PPA) For A 50MW Spanish Solar PV Plant
Sonnedix, the international renewable energy producer, has signed an eleven-year renewable energy power purchase agreement (PPA) with one of the main energy groups in Europe.
The renewable energy will be produced by Sonnedix Bonete, a 50MW solar PV plant acquired by Sonnedix at the end of 2021, located in the province of Albacete, Castilla-La-Mancha, Spain.
The PPA commenced at the beginning of 2023 and will have a total duration of 11 years.
“We’re very proud of providing green electricity to energy companies of great presence in the Iberian Peninsula, a market of great importance for Sonnedix” said Axel Thiemann, CEO of Sonnedix. “With over a decade of sustainable growth, we’re positioned as a leading independent solar producer, and we continue expanding our renewable platform not just in Spain but also in Portugal, where we set foot in 2021 with the acquisition of a 262MW portfolio”.
Sonnedix currently has a total capacity of over 1.3GW in Spain, including a development pipeline of over 660MW. The renewable energy producer entered the Portuguese market in 2021 through the acquisition of a 262MW solar PV portfolio, comprised of seven solar PV plants in advanced development and construction stages.
On this transaction, Sonnedix was advised by Watson Farley & Williams (legal).