Sonnedix Expands Footprint: Acquisition of 49MW Solar PV Portfolio Marks Milestone Entry into Portuguese Market

Sonnedix, a prominent renewable energy producer boasting over 3 GW of operating capacity, has recently acquired a portfolio of solar PV plants totaling 49MW in Portugal. This marks Sonnedix’s inaugural operational assets in the country, signifying a significant stride towards delivering clean, secure, and affordable energy solutions across the Iberian Peninsula.

The 49MW portfolio comprising four solar PV plants has been procured from global renewable energy developer Cubico Sustainable Investments (Cubico). These projects, operational between 2012 and 2014, are strategically situated across southern Portugal in the regions of Evora, Setubal, and Faro.

This acquisition underscores Sonnedix’s expanding footprint in Portugal, facilitating scale efficiencies and optimized resource utilization. With all projects already operational, the portfolio adds immediate capacity without exposure to permitting and construction risks. Moreover, the entire portfolio benefits from the Portuguese government’s feed-in-tariff (FiT) scheme, ensuring long-term revenue certainty and mitigating risk by safeguarding against price volatility.

Mario Volpe, Sonnedix’s Head of Growth for Southern Europe, emphasized the significance of this operational acquisition, highlighting the immediate operational capacity and secure revenue streams provided by the FiT scheme. He reaffirmed Sonnedix’s commitment to converting its substantial pipeline and expanding its portfolio of premium renewable energy assets to deliver sustainable, flexible, and reliable energy to the grid in Portugal.

Axel Thiemann, CEO of Sonnedix, expressed Portugal’s appeal as an attractive market for renewable energy providers due to its stable regulatory framework, providing a conducive environment for investment. He emphasized Sonnedix’s strategic positioning in the Portuguese market, leveraging synergies from existing projects in Iberia to further its growth trajectory and establish itself as a leading player in the Portuguese renewables sector.

Since its market entry in late 2022, the acquired 49MW of operating capacity complements Sonnedix’s existing portfolio of renewable energy projects in Portugal, which includes 172.7MW under construction and a development pipeline of 51.5MW.

Notably, Sonnedix’s maiden project in the Portuguese market, the 149MW Sonnedix Douro in Tarouca, northern Portugal, represents the company’s largest solar PV project in Europe. Construction commenced in late 2023 and is slated for completion by the end of 2024, bolstering operating capacity in the market to nearly 200MW this year. Sonnedix Douro will commence supplying renewable electricity to digital infrastructure company Equinix from July 2025 under a 10-year pay-as-produced power purchase agreement (PPA) inked by both entities in December 2023.