Sonnedix has completed the acquisition of a 117.8MW portfolio of solar PV plants in Italy, from Graziella Holding and other minority sellers. All plants in the portfolio are int the Ready-to-Build (RtB) stage.
The portfolio is comprised of two solar PV projects: Sonnedix Cagliari, of 69.5MW, and Sonnedix Nuoro, of 48.3MW, located both in Sardinia, Italy. The plants are expected to start operations by the second half of 2023 and the first half of 2024 and once built, they will benefit from a feed-in tariff from Gestore dei Servizi Energetici.
These projects will produce approximately 212,000 MWh a year of clean electricity, capable of powering over 80,000 homes and avoiding the emission of over 60,000 tons of CO2 per year.
"This acquisition demonstrates our long-term commitment to the Italian market"- said Axel Thiemann, CEO of Sonnedix – "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 currently has a total capacity of over 1.6GW in Italy, of which 293MW correspond to plants in operations, and over 1.3GW in the development pipeline.
On this transaction, Sonnedix was advised by Norton Rose Fulbright as Legal Advisor and Stantec as Technical Advisor.