Sonnedix Expands Portfolio with Sevilla Solar Projects Acquisition
Deal News | Jan 31, 2025 | Finance Community ES 2 - Corporate M&A
Sonnedix has acquired a solar energy portfolio, known as Apolo, consisting of two operational photovoltaic projects in Seville, Spain. The projects have a total capacity of 81 MW and have been running since 2019. They are secured with a 13-year Power Purchase Agreement (PPA) with a reputable counterpart, ensuring stable and reliable supply of clean energy. Sonnedix views these projects as having strong potential for future energy storage systems integration, specifically battery energy storage systems (BESS). With this acquisition, Sonnedix's operational capacity in Spain increases to 1,112 MW, strengthening its position as a significant player in the Spanish renewable energy market. PwC advised the sellers, with Prez-Llorca, G-advisory, and EY advising Sonnedix. The corporate finance team at PwC, headed by Alfonso Lacave Martos, played a crucial role in the transaction.
Sectors
- Renewable Energy
- Corporate Finance
Geography
- Spain – The solar projects, as well as Sonnedix's expanded capacity, are located in Spain.
Industry
- Renewable Energy – The article focuses on the acquisition of photovoltaic solar projects, directly tied to the renewable energy sector.
- Corporate Finance – PwC played a significant advisory role, showcasing the importance of corporate finance in M&A transactions.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Sonnedix | Buyer | Company | A renewable energy company acquiring two solar projects in Seville, Spain. |
| PwC | Advisor | Company | Advised the sellers in the transaction of the solar projects. |
| Préz-Llorca | Legal Advisor | Company | Advised Sonnedix on the acquisition. |
| G-advisory | Advisor | Company | Advised Sonnedix on the acquisition. |
| EY | Advisor | Company | Advised Sonnedix on the acquisition. |