Squire Patton Boggs advised Sonnedix, an international renewable energy producer, on the acquisition in November of a 300MW UK portfolio of five solar projects from Lightsource bp.
It is intended that the portfolio will be operational in 2024 and will provide the opportunity for Sonnedix to significantly scale up its presence in the UK market by serving as a hub to support its global and European presence. The projects are expected to produce approximately 300GWh of clean energy during the first year of operation (equivalent to approximately 84,500 households powered, avoiding the emissions of over 57,000 metric tons of CO2 per year). With this acquisition, Sonnedix will reach circa 500MWp of controlled capacity in the UK with the ambition to accelerate its growth trajectory to increase its operational presence and make the UK one of its major markets in Europe.
Trevor Ingle, global head of energy at Squire Patton Boggs remarked, “We are delighted to have assisted Sonnedix on this strategically important transaction scaling up their UK presence. We are currently seeing unprecedented levels of activity across the renewables sector and this is exactly the type of multinational energy client we are ideally placed to assist across our international offices. It was a pleasure to work with the Sonnedix team.”
Squire Patton Boggs worked in tandem with the Sonnedix in house legal team on the transaction.