This Sonnedix version is published using an automated translation system.
LONDON, UK – Sonnedix, the global independent solar producer (IPP), today announced the transfer of 100% of its “Puerto Rican Operation” to ArcLight’s Infinigen renewable energy platform.
The deal includes Sonnedix USA Ltd, Sonnedix Solar Puerto Rico, Sonnedix Solar Puerto Rico Holdings Ltd, and Sonnedix Solar Puerto Rico Holdings II Ltd.
Operations in Puerto Rico consists of two operational solar PV plants — Orellana and Horizon — totaling 73.2 megawatts, a dedicated operations and asset management team, as well as other entities seeking to store additional solar and battery power in Puerto Rico. Puerto Rican operations will conduct business under the Infinigen name after closing.
“After a decade of being in Puerto Rico, we have decided to move our operations off the island to focus on our sustainable growth strategy in other markets in the United States.” said Axel Thiemann, CEO of Sonnedix. “Puerto Rico will always be a part of our growth story bringing an important learning journey with us and we are honored to work with a highly committed and dedicated team of experts. We believe this is also an opportunity for both the assets and the team to expand and grow within the Infinigen platform.”
Commenting on the transaction, Dan Rivers, Co-Founder and Managing Director, ArcLight, said: “This transaction represents the first acquisition of our Infinigen platform, and is an attractive opportunity to support the leading owner, operator and developer of renewable assets in Puerto Rico. ArcLight looks forward to supporting Infinigen’s mission to provide low-cost electricity Over the course of its 20-year history, ArcLight has invested more than $4 billion in 5 gigawatts of renewable assets, and this transaction is a testament to our continued commitment to enabling decarbonization and sustainability.
The transaction is expected to close in two phases between December 2021 and March 2022, subject to customary regulatory approvals and closing conditions.
In this transaction, Sonnedix was advised by DLA Piper as lead legal counsel, while Latham & Watkins served as lead legal counsel for ArcLight.
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