The portfolio, which was acquired by Sonnedix in July 2021, comprises five solar PV plants in Valladolid, Castilla y León, Spain. The projects are currently under construction and are expected to start operations in Q1 2023. It is estimated that the portfolio will generate 156 GWh of renewable energy per year.
Sonnedix is a long-standing WFW client and a leading renewable energy producer which develops, builds and operates renewable energy projects with over a decade-long trajectory of sustainable growth. Its current portfolio comprises over 1.5 GW of total capacity in operations, under construction, and various development phases across the country. The renewable energy producer continues expanding its platform through the acquisition and development of projects in Spain and other OECD markets.
The green energy is produced by a 77MW solar PV portfolio acquired by Sonnedix in July 2021, comprised of five solar plants located in Valladolid, Castilla y León province of Spain. The projects are currently under construction and are expected to start operations within the first quarter of 2023. It is estimated that the portfolio will produce a total volume of 156GWh of renewable energy per year, equivalent to powering over 50,000 homes, and capable of avoiding more than 30,000 tons of CO2.
“We are very excited to partner with a company like Endesa, who shares our commitment and drive to keep powering a bright future for all” said Axel Thiemann, CEO de Sonnedix. “We started off our journey in this country, over a decade ago, with a 0.9MW project. Today, our largest office is in Madrid, and our largest portfolio of operational projects is here in Spain, with over 185 projects and a total installed capacity of more than 800MW. Partnering with Endesa, one of the largest electric companies in Spain, becomes a true testament to our sustainable growth trajectory, but also to our commitment to be a key player in the Spanish energy transition”.
The WFW Madrid team that advised Sonnedix was led by Regulatory partner David Diez, assisted by Corporate partner Javier Ester and associates Borja Gavilá and Juan Lozano de Diego.
David commented: “It has been a real pleasure to work again with the top tier Sonnedix team on negotiation a PPA for one of their projects at an advanced stage of development in Spain. The Spanish PPA market, which has been growing exponentially in recent years, is now highly relevant to both domestic developers and major electricity companies. WFW is one of the leading law firms in the renewables sector with unrivalled experience in negotiation highly complex long-term PPAs”.