Allen & Overy, Uría Menéndez, Linklaters and Cuatrecasas advise on €600m solar power deal
Allen & Overy advised J.P. Morgan Asset Management in relation to Sonnedix’s €600 million acquisition of the 136MW Vela Energy solar power portfolio from Centerbridge Partners.
Sonnedix was advised by Uría Menéndez, while Centerbridge Partners was advised by Linklaters and Cuatrecasas, Gonçalves Pereira.
The acquired portfolio comprises 43 operating and financed Solar PV plants in Spain. Sonnedix said the deal would make it the “second largest Solar PV player in Spain”.
The transaction is expected to close in the first quarter of this year and will bring Sonnedix’s total operating capacity to almost 500MW globally.
As part of the transaction, Sonnedix and the management team that worked with Centerbridge to build and operate the portfolio have entered into a partnership to continue to acquire Solar PV assets in Spain.