Sonnedix is selling its Puerto Rico solar operations to Arclight Capital Partners in order to focus on its sustainable growth strategy in other US markets.
Sonnedix is selling the Puerto Rico Operation to ArcLight’s Infinigen for an undisclosed amount.
The Puerto Rico Operations comprises the Oriana and Horizon operating solar PV plants totalling 73.2MW, plus other entities pursuing additional solar and battery energy storage in Puerto Rico.
Sonnedix said the deal includes Sonnedix USA, Sonnedix Solar Puerto Rico, Sonnedix Solar Puerto Rico Holdings, and Sonnedix Solar Puerto Rico Holdings II.
Axel Thiemann, CEO of Sonnedix, said: “After a decade present in Puerto Rico, we have decided to move our operations away from the island to focus on our sustainable growth strategy in other markets in the US.
“Puerto Rico will always be part of our growth story and we bring with us an important learning journey and the honour to have worked with a deeply 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.”
Dan Revers, ArcLight’s managing partner and founder, said this transaction represents the first acquisition by the Infinigen renewables platform.
ArcLight looks forward to supporting Infinigen’s mission to provide low-cost, renewable electricity to North American communities. Over its 20-year history, ArcLight has invested over $4bn in 5GW of renewable assets, and this transaction is testament to our continued commitment to enabling decarbonization and sustainability.”
The Puerto Rico Operations will conduct business under the Infinigen name post-closing.
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