Sonnedix buys 55-MW French PV portfolio from Glennmont Partners

Solar carport in France. Source: Sonnedix Power Holdings Ltd

April 16 (Renewables Now) - Independent solar power producer Sonnedix Power Holdings Ltd has bought five French photovoltaic (PV) parks with a combined capacity of 55 MWp from clean energy investor Glennmont Partners.

Sonnedix announced this today, without revealing the value of the transaction. The acquisition expands the firm’s operating capacity in France to 244 MWp.

“Our focus on operational excellence ensures all assets are quickly and efficiently onboarded to our global platform. The pace of growth in-country is being mirrored in our other Europe markets, as we actively seek to develop, build and acquire assets across our platform for the long term,” commented Axel Thiemann, CEO of Sonnedix.

In turn, Joost Bergsma, CEO and founding partner of Glennmont Partners, said that this sale reflects the company’s strategy to invest early in high quality assets and optimise them in the initial years of operation to facilitate a steady stream of cash flow generation.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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