Sonnedix and Amundi companion to purchase European solar properties

Nov 23, 2020 05:25 PM ET
  • Independent power manufacturer Sonnedix will certainly increase investment in Europe via a brand-new collaboration with a fund handled by French possession manager Amundi.
Sonnedix and Amundi companion to purchase European solar properties
Image: Sonnedix

The partnership between Sonnedix as well as Amundi Energies Vertes (AEV) will consist of an initial EUR50 million (US$ 59.5 million) investment in the European PV market in addition to a dedication to invest a comparable quantity in projects developed or obtained by Sonnedix via a specialized platform.

The first purchase, anticipated to close by completion of 2020, consists of a mix of running assets across numerous European countries. Sonnedix had yet to clarify which European markets would go through the agreement when doubted by PV Tech.

"It is with tactical collaborations similar to this that we are capable of continual lasting development, placing our ESG requirements as well as techniques at the center of our organization," claimed Carlos Guinand, exec chairman of Sonnedix.

Having actually begun procedures in Europe in 2009, Sonnedix currently has a possession base surpassing 900MW in the continent, spread throughout 4 countries: Spain, France, Italy and also the UK.

Spain is the business's biggest market, with 119 solar PV plants in operation with an overall ability of 333MW. The firm purchased a 74.7 MW profile of Spanish PV plants previously in the year prior to taking place to complete EUR321 million in non-recourse financing for 13 solar plants in the nation.