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Sonnedix acquires 43 solar plants from Vela Centerbridge Partners in Spain

Sonnedix acquires 43 solar plants from Vela Centerbridge Partners in Spain

Sonnedix has announced that it has signed a transaction to acquire Vela Centerbridge Partners portfolio of 136 MWp comprised of 43 solar photovoltaic plants operating in Spain, so that the company will become the second largest agent of the sector in our territory.

This transaction, which is expected to close in the first quarter of the year, will increase Sonnedix’s total operating capacity worldwide to nearly 500 MW. The Group is majority owned by institutional investors advised by JP Morgan Asset Management and have invested more than 600 million euro in new assets in the last twelve months.

As part of the transaction, Sonnedix and the management team that worked with Centerbridge to build and operate the portfolio have formed a partnership to continue acquiring photovoltaic solar energy assets in Spain, among other places. In addition, Sonnedix and Centerbridge have agreed to explore new opportunities for greater collaboration in Europe, the former said in a statement.

Sonnedix wants to grow in Spain

The portfolio acquisition byVela and the re-entry into the Spanish photovoltaic solar energy market is an important milestone for Sonnedix. The acquisition boosts our global capacity of nearly 500 MW and demonstrates our long-term commitment to continued growth ” said Axel Thiemann, commercial executive vice president Sonnedix.

For his part, Lars Meyer, on behalf of Centerbridge, has stated “Centerbridge is satisfied that the first-class solar asset platform in Spain that we and the Vela management team have added is now acquired by Sonnedix, a leading independent solar power producer with a distinctive track record. “

Vela´s management team has enjoyed an excellent partnership with Centerbridge, and we look forward to continuing to grow with Sonnedix as our new partner,” said Iñigo Olaguibel, on behalf of the management team.

Sonnedix has been advised by Uría Menéndez (legal), Enertis (technical) and KPMG (accounting / tax). Centerbridge Partners has been informed by Bank of America Merrill Lynch (financial), Linklaters, Cuatrecasas, Gonçalves Pereira (legal), G-Asesor (technical) and Deloitte (accounting).