March 23 (Renewables Now) - Independent solar power producer Sonnedix Power Holdings Ltd said today that it has acquired 17.7 MWp of Italian solar plants from a joint venture (JV) formed by Canadian Solar Inc (NASDAQ:CSIQ) and Manni Energy Srl.
The company has purchased five operational ground-mounted photovoltaic (PV) parks located in Sicily. These assets have a 10-year power purchase agreement (PPA) signed with TrailStone Renewables GmbH.
According to Sonnedix, the contract's term is one of the longest of its kind when it comes to fully unsubsidised solar plants in Italy and is the company's first in this particular market.
With this new addition, Sonnedix's local portfolio of operating solar parks reaches 234 MW. Around the world, Sonnedix’s operating capacity in OECD markets amounts to 997 MW, with a further 446.5 MW under construction and 429.5 MW in late stage development, the company noted.
Sonnedix was supported by Orrick as legal advisor, by Duff & Phelps REAG as technical advisor and by RSM Studio Palea Lauri Gerla for corporate and fiscal matters.