Sonnedix Announces Acquisition of 23 MW Portfolio in Italy

CHANGCHUN, China, December. 25, 2019 /PVTIME/ -- Sonnedix, the global independent solar power producer
(IPP), has acquired a 23MW portfolio of 12 operating solar PV facilities from
investment group, Ellomay Luxembourg Holdings S.a.r.l.

The assets have a strong geographical synergy with
Sonnedix’s existing Italy footprint. The plants, all ground mounted, are being
integrated into Sonnedix’s portfolio in line with its operational excellence
commitment. The acquisition takes Sonnedix’s operating capacity in Italy to

Sonnedix continues to expand its controlled capacity in
OECD markets around the world, with over 950MW in operation, approximately
400MW under construction and 470MW in late stage development.

Axel Thiemann, CEO of Sonnedix said: “This latest
acquisition highlights our commitment to the Italian market, as we continue to
deliver on our growth strategy. Sonnedix is seeking opportunities to develop,
own and operate assets for the long-term, as we expand and optimize our global

Carlos Guinand, Chairman of Sonnedix said: “I am delighted
to see Sonnedix exceed 200MW operational capacity in Italy as the company
celebrates its 10th anniversary, and I look forward to continued
sustainable growth in all our markets.”

For this transaction, Sonnedix was advised by Orrick
(Legal), Fitchner (Technical) and RSM Studio Palea Lauri Gerla (Tax).