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Sonnedix Acquires 36.8MW of Solar PV Portfolio in Spain

Published on 30 Dec 2021
Sonnedix has completed the acquisition of an operating solar PV portfolio in Spain, from Kobus Partners.

The portfolio is comprised of 22 solar PV plants totalling 36.8MW, located in several regions around Spain. All plants are operating under the Spanish regulatory regime.

"We are very excited to see more sustainable growth in our Spanish platform" said Axel Thiemann, CEO of Sonnedix, "after yet another challenging year where our phenomenal team has been working relentlessly to continue harnessing the power of the sun to build a bright future! And this is just the beginning, as we continue growing our platform sustainably and playing a key role in the Spanish energy transition".

Carlos Gacía-Monzón and Pablo Guinot, founding partners of Kobus, affirmed: "The sale of Kobus Renewable Energy II marks an important milestone for Kobus, as it demonstrates the execution of our fund's 5-year-long strategic plan".

Sonnedix currently has a total capacity of over 1GW in Spain, including around 415MW in operations, 65MW under construction, and a further development pipeline of over 700W.The solar IPP continues actively seeking opportunities to acquire development and operational projects in Spain, and across OECD countries.

Kobus Partners, created in 2016, has executed operations of over EUR 400M and currently has more than EUR 500M in assets, The renewable investment firm is setting up its third fund with EUR 150 million.

On this transaction, Sonnedix was advised by Watson Farley Williams on legal and tax due diligence and on the negotiations of the SPA and Vector Renewables on the technical due diligence. Kobus Partners was advised by Acron Beka as M&A advisor, Deloitte Legal on the legal and financial due diligence and negotiation of the SPA, Garrigues on the tax due diligence, Altermia on the technical due diligence and Aon on the insurance.

Source: Sonnedix
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