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Wednesday, February 28, 2024

GA_P, Pérez-Llorca advise on Sonnedix’s acquisition of 136MWp solar PV portfolio from Qualitas Energy

Pérez-Llorca has advised Sonnedix while Gómez-Acebo & Pombo has advised Qualitas Energy on the transaction, considered one of the most relevant that have been carried out in the energy sector in the last year

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Sonnedix, the international Renewable Energy Producer (REP), has acquired a 136MWp solar PV portfolio in Spain from Qualitas Energy, a global investment and management platform focused on renewable energy, energy transition, and sustainability investments.

The portfolio consists of 169 solar PV plants located across the country. All plants are in operation from 2007-2014 and are under the Spanish regulatory regime.

“We’re truly proud of this operation, one of the most important in recent years, which undoubtedly reinforces our positioning and consolidation in Spain as a leading independent renewable energy producer”, affirmed Axel Thiemann, CEO of Sonnedix. “This acquisition demonstrates our capacity and dedication to powering the energy transition in the country – where we started our journey in 2009, and where today we have a total capacity of over 1.4GW – expanding our portfolio of projects and building relationships with partners like Qualitas Energy, who share our vision of a future where renewable energy leads, improving the lives of our communities.” 

“We are delighted to have a partner such as Sonnedix, which accompanies us in our mission to decarbonize the global economy, and we are proud to continue helping to consolidate the Spanish energy market. Furthermore, this transaction demonstrates our purchasing, financing, and operational optimization capabilities and allows us to further strengthen our business strategy”, said Iñigo Olaguíbel, Founding Partner and CEO of Qualitas Energy.

Sonnedix’s global platform spans across ten countries, reaching over 8GW of total capacity. In Spain, where the renewable energy producer is present since 2009, they reached an operational capacity of over 770MW and more than 850MW in projects under construction and various phases of development. Sonnedix continues expanding its global portfolio through the acquisition and development of projects in Spain and other OECD markets.

In addition, Qualitas Energy, which has more than 16 years of experience in the renewable energy sector, recently announced the launch of its fifth flagship fund, Q-Energy V (QE V), with which it will primarily invest across Germany, the UK, Spain, Italy, and Poland, targeting renewable energy assets in operation and under development. In November 2022, the vehicle held a first close of more than €1.1 billion.

On this transaction, Sonnedix was advised by Pérez-Llorca (fiscal, legal) and G-advisory (technical). Qualitas Energy was advised by Santander (financial) and Gómez-Acebo y Pombo (legal). According to Gómez-Acebo & Pombo, this transaction is one of the most relevant that have been carried out in the energy sector in the last year. The portfolio comprises 169 solar photovoltaic plants located throughout the country.

GA_P’s team was made up of partner Pablo Fernandez Cortijo, senior associate Diego Martínez Colino, lawyers Claudia Barreiro Lafuente, Fernando Aldavero Dávila and Iñigo González de Echávarri, along with of counsels Vanessa Armas and Juan Romero Sánchez.

From left to right, starting from the top: Nasif Hamed, Alejandro Osma, Laura Llanos, Álvaro Amo, Mónica de San Román, Elisa Ribas, José Azqueta, Jaime de Blas, and Ana Cremades.

Pérez-Llorca advised Sonnedix with a Corporate team made up of partners Nasif Hamed, and Alejandro Osma, and lawyers Laura Llanos and Álvaro Amo, a Banking & Finance team formed by partner Mónica de San Román and lawyer Elisa Ribas, together with Tax partner José Azqueta, Competition partner Jaime de Blas, and Public & Regulatory partner Ana Cremades.

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