Sonnedix acquires Aloe Energy with 67MW solar portfolio in France

Sonnedix has strengthened its presence in France through the acquisition of Aloe Energy, a Solar PV developer and operator with a 67 MW solar portfolio in operation as well as a pipeline of projects under development and construction.

Sonnedix acquired Aloe Energy from a consortium including Aloem, Ardian Infrastructure and Debiopharm Investment.

Sonnedix was advised by Astris Finance (financial), Linklaters (legal), OST (technical) and EY (accounting / tax). The Sellers were advised by Gide (legal/tax/structure), Société Générale (financial modeling), G-advisory (technical), PwC (accounting), Arsene Taxand (tax) and PGA (legal).

This is the fifth significant acquisition Sonnedix has completed in the last eighteen months, totalling more than 300 MW of operating projects with a total asset value of more than €1.4 billion.

These acquisitions have more than doubled Sonnedix’s solar capacity in construction and operation, now exceeding 600 MW, with an overall portfolio over 1.2 GW globally. Sonnedix now ranks as France’s 4th largest solar player, controlling 155MW of operating PV plants across France, in addition to more than 100MW in each of Italy and Spain.

Andreas Mustad, Sonnedix’s CEO, said:

“We are excited about the further integration in France and delighted to welcome the Aloe Energy team to Sonnedix, which has just in the last auction demonstrated the strength of their project development capabilities – we look forward to working together to continue our growth in France and across Europe.”