Sonnedix has completed the acquisition of ARCO in Chile. Arroyo Investors ("Arroyo") established ARCO to pursue investment opportunities in the renewable generation markets in Chile.
Axel Thiemann, CEO of Sonnedix, affirmed: "Sonnedix has been preparing for the next phase of the energy transition – providing green, affordable electricity targeted at our customers' needs – this acquisition allows us to start to hybridize our generation profile, and is the first step in our journey to become a true customer-oriented, risk-balanced, renewable energy solutions provider".
"I feel tremendously proud of our extraordinary team for this important milestone for our company" – said Carlos Guinand, Executive Chairman of Sonnedix. "Since we began in Chile ten years ago, we have been deeply committed to helping the country to meet its renewable power targets, playing an active role in the energy transition. This transaction demonstrates our long-term commitment, but also our interest in becoming a key player in the Chilean market."
David T. Field, a Founding Partner at Arroyo, stated: "Establishing and growing the renewables generation portfolio of assets within ARCO has been a milestone achievement for Arroyo. The transaction to sell ARCO to Sonnedix, a world-class renewables company, is a resounding achievement for both Arroyo and the strong leadership team at ARCO, affirming our collective vision and commercial execution."
With this acquisition, Sonnedix enters the wind generation space in Chile, where they have been present as a solar IPP since 2015. The company adds now 290MW of renewable energy projects to its portfolio, reaching over 1GW of total capacity in Chile, and 7.4GW globally.