The partnership relies on two main pillars: an initial investment of 50 million euros in the European solar PV market; and a commitment to invest a similar amount in projects developed or acquired by Sonnedix through a dedicated platform.
The initial transaction, expected to close before the end of 2020, consists of a mix of operating assets across several European countries and will give AEV further access to new growth investments within this region with Sonnedix, a key player within the European market with an asset base that exceeds 900 MW.
The agreement consolidates Sonnedix’s position and rapid growth across European markets, where it started operations in 2009. Today, Sonnedix is among the top five solar IPPs in Spain, Italy and France.
“Our partnership with AEV not only highlights our long-term commitment to our European markets, but also to the solar power industry as a whole, demonstrating our active role in pushing the energy transition forward” said Axel Thiemann, CEO of Sonnedix.
For this transaction, Sonnedix was advised by Astris Finance as financial advisers and Eversheds Sutherland (International) LLP as legal counsel.
For additional information:
