December 23 (Renewables Now) - Independent solar power producer Sonnedix Power Holdings Ltd said today it has achieved 216.5 MW of operating photovoltaic (PV) capacity in Italy.
The new milestone was reached with the acquisition of 12 solar power plants with a total capacity of 23 MW from investment group Ellomay Luxembourg Holdings Sarl.
According to Ellomay Capital Ltd (TASE:ELLO), the buyer paid EUR 38.7 million (USD 42.6m) in cash for the assets, which were built between 2010 and 2013 and based on a government feed-in tariff (FiT).
Sonnedix was supported by Orrick as legal advisor, by Fitchner as technical advisor and by RSM Studio Palea Lauri Gerla for fiscal matters.
With the new solar additions, Sonnedix’s global operating capacity in OECD markets exceeds 950 MW, with approximately 400 MW under construction and 470 MW in late stage development, the company noted. Last week, Sonnedix acquired six PV operating plants with a combined capacity of 5.9 MWp from Italian closed end fund Fondo PPP Italia.
(EUR 1.0 = USD 1.100)