Sonnedix Expands Portuguese Solar Portfolio with Cubico Acquisition

• Sonnedix expands its solar portfolio in Portugal with acquisition of 49-MW solar parks from Cubico Sustainable Investments, marking a strategic move towards market leadership.

Sonnedix Power Holdings Ltd has acquired a 49-MW portfolio of solar parks in Portugal from Cubico Sustainable Investments. The deal, whose value was not disclosed, marks Sonnedix's first operational assets in Portugal. The four photovoltaic parks are located in Evora, Setubal, and Faro, commissioned between 2012 and 2014 under the national government's feed-in-tariff regime.

Sonnedix currently has 172.7 MW under construction and a 51.5-MW development pipeline in Portugal. The company sees the acquisition as a way to achieve scale efficiencies and support its expansion strategy in the local market. CEO Axel Thiemann stated that Sonnedix is well-positioned to capitalize on synergies and become a leader in the Portuguese renewables market.

What is Sonnedix's strategy for growth in the Portuguese solar market?

• Sonnedix's strategy for growth in the Portuguese solar market includes acquiring operational assets to achieve scale efficiencies.
• The company aims to capitalize on synergies from the recent acquisition of the 49-MW portfolio of solar parks from Cubico Sustainable Investments.
• Sonnedix plans to leverage its current 172.7 MW under construction and 51.5-MW development pipeline in Portugal to support its expansion in the local market.
• CEO Axel Thiemann believes that Sonnedix is well-positioned to become a leader in the Portuguese renewables market by taking advantage of growth opportunities and achieving operational excellence.