Sonnedix, JP Morgan clients set up global solar JV

Dec 22, 2014 - Solar power producer Sonnedix has formed a 50/50 joint venture with certain clients of JP Morgan Asset Management, with plans to commit over EUR 300 million (USD 368m) to existing and future solar plants.

The new company, called Sonnedix Power Holdings Ltd, was created by Sonnedix and certain institutional investors advised by JP Morgan Asset Management for the purpose of pursuing opportunities in the global solar market, the parties said on Friday.

The jointly-owned platform already operates 117 MW of solar parks in France, Italy, Spain, Thailand and Puerto Rico. At the same time, it has a pipeline of 18 projects surpassing 600 MW in pre-construction stages in Japan, Puerto Rico, Chile, the UK and South Africa.

Commenting on this development, Sonnedix’s chairman and director Carlos Guinand said that the company wishes to further grow its footprint “across multiple regulatory regimes that are at different phases of renewable integration.”

(EUR 1.0 = USD 1.226)

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