Sonnedix to acquire 136 MW PV portfolio in Spain

Independent solar power producer Sonnedix acquired the 136 MW »Vela Portfolio« from Centerbridge Partners L.P., comprising 43 operating and financed PV plants in Spain. According to the company, with this transaction Sonnedix is the second largest PV player in that country. It is expected to close within the first quarter and will bring Sonnedix’s total operating capacity to almost 500 MW globally. As part of the transaction, Sonnedix and the management team that worked with Centerbridge to build and operate the portfolio have entered into a partnership to continue to acquire solar assets in Spain and beyond. In addition, Sonnedix and Centerbridge have agreed to explore additional opportunities for further collaboration in Europe.
Sonnedix was advised by Uria Menendez (legal), Enertis (technical) and KPMG (accounting / tax). Centerbridge was advised by Bank of America Merrill Lynch (financial), Linklaters, Cuatrecasas, Gonçalves Pereira (legal), G-Advisory (technical) and Deloitte (accounting).
Sonnedix Group is majority owned by institutional investors advised by J.P. Morgan Asset Management, and has invested in excess of €600 million ($632 million) in new assets in the past 12 months. Centerbridge is an investment management firm. As of January 2017, the Firm has approximately $29 billion in capital under management with offices in New York and London.

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