Independent solar power producer Sonnedix has wrapped up the acquisition of a 117.8MW portfolio of solar PV plants in Italy from Graziella Holding and other minority sellers.
The portfolio includes two solar PV projects, the 69.5MW Sonnedix Cagliari project, and the 48.3MW Sonnedix Nuoro, both located on Italy’s Sardinia Island.
Both solar power projects are in Ready-to-Build (RtB) stage and are expected to start operations by the second half of 2023 and the first half of 2024.
Once completed, the projects will benefit from a feed-in tariff from Gestore dei Servizi Energetici (GSE), which is owned by Italy’s Ministry of Economy and Finance.
The projects are expected to produce around 212,000MWh per annum of clean electricity, adequate to power more than 80,000 homes and eliminate 60,000 tonnes of CO2 emission per annum.
Norton Rose Fulbright served as a legal advisor and Stantec as a technical advisor for Sonnedix on the transaction.
Sonnedix CEO Axel Thiemann said: “This acquisition demonstrates our long-term commitment to the Italian market, 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.”
Sonnedix is engaged in the development, construction, ownership and operation of solar power plants worldwide, with a total capacity of more than 7GW.
Currently, the company has more than 1.6GW of solar projects in Italy, including 293MW of operating solar plants, and 1.3GW in the development pipeline.
In September last year, Sonnedix completed the acquisition of a 112MWp Spanish solar PV portfolio from Circle Energy, Faleuma, and Ríos Renovables.
The portfolio includes seven solar PV projects, all located in Valladolid province in north-western Spain, in a well-advanced stage of development, said the solar power company.
