Sonnedix has acquired two renewable energy projects in Portugal, increasing its total capacity in the country to almost 500MW. The two projects, which are in the ready-to-build phase, include both solar and battery energy storage components, with an expected annual generation of nearly 120,000MWh of clean electricity.
The projects are set to power approximately 40,000 households and are projected to avoid over 42,000 metric tonnes of CO2 emissions per year. Construction is set to begin immediately, following the issuance of a notice to proceed for both projects. Sonnedix has partnered with EPC contractor Zagope for the construction phase.
The acquisition further strengthens Sonnedix's position in Portugal, which already hosts one of the company's largest European projects, the 150MW Project Douro, part of the Oasis portfolio. This project, which represents nearly 300MW in total, successfully achieved mechanical completion earlier this month.
In addition to these new projects, Sonnedix has continued to expand its operating portfolio in Portugal, including the acquisition of Project Fado, a 49MWp portfolio of regulated operating projects, and the successful financing and commercial operation of the Pombal plant, a 23MWp regulated facility located in central Portugal.
The latest acquisitions mark a significant milestone for Sonnedix in its growth in Portugal, a market the company entered in 2022. Sonnedix expects to reach a total of 750MW of capacity in Portugal by the end of 2025.
Chief Executive Axel Thiemann emphasized the importance of Portugal to the company's expansion strategy, stating, “Portugal is an important and growing market for Sonnedix. With a favourable regulatory environment and stable investment signals, Portugal offers strong opportunities for renewable energy producers. Sonnedix is well-positioned to capitalise on this potential, leveraging our existing Iberian projects to convert our pipeline, expand our footprint, and hybridise our portfolio to support Portugal's energy transition.
Beatriz Llorente Blanco, Head of Growth for Iberia, highlighted the company's commitment to the Portuguese market, saying, “These two projects are living proof of our long-term commitment to delivering sustainable and innovative energy solutions to the Portuguese market. By acquiring projects at the ready-to-build stage, we not only reduce risk but also accelerate timelines and achieve cost efficiencies. We made considerable progress in our portfolio in 2024, and looking ahead we are excited by the many prospects, including bringing one of our largest projects in Europe online, which will contribute significantly to Portugal's transition to a cleaner energy future.
